North Kitsap Real Estate Market - December 2011

Statistics here are for Kingston, the largest of the remaining housing markets in North Kitsap. Activity in Kingston should be representative of the other nearby communities. Kingston homes were selling for a month end median price of about $329,000 at the end of December, 47% higher than a year ago and 39% lower than last month. Month-to-month fluctuations in the low volume Kingston market make these raw numbers difficult to interpret. The more stable 3 month moving average ($365,492) of closed sale price is 51% higher than a year ago. The Kitsap County 3 month moving average median price is about 1% lower than it was a year ago. The 3 month moving average of Kingston closed sales was 6% lower than a year ago, while the number of pending sales was 40% higher than a year ago. The 3 month moving average of closed sales is up 3% Countywide from a year ago. The number of active listings in Kingston (50) is 35% higher than a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 16.7 months, way slower than the 6.7 month turnover reported last month and slower than the 6.2 month turnover of a year ago. Kingston is still a buyer's market.

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