Kitsap County WA Market Report/Conditions for May 2007

Real Estate Market Report/Conditions for Kitsap County WA for 04/01/2007

The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA.

• Properties currently active on the market: 1695
• Properties closed in the last 180 days: 1508
• Average Sales Price: $300,851
• Average List Price: $306,878
• Ratio of List Price to Sales Price: 98%
• Average Days on Market: 90 days
• Sales Pending this Week: 73

The "Way We Were"comparative snapshot:

• Active Listings: 2006 - 983; 2007 - 1695
• Days on Market: 2006 - 61; 2007 - 90
• Absorption Rate: 2006 - 17; 2007 - 23
• LP/SP Ratio: 2006 - 99; 2007 - 98%
• Closed Sales last 6 months: 2006 - 1744; 2007 - 1508

Current Market Conditions: It's an interesting market right now. As is typical for this time of year, activity has picked up. Many Sellers are planning their relocations for right after the end of the school year. Depending on the specific area and price range, our market can be both a 'Sellers' and 'Buyers' market.

Quadrant Homes, a popular builder here in the Seattle area since 1969, has two large developments here on the Kitsap Peninsula: Stendahl Ridge in Poulsbo, and The Ridge at McCormick Woods in Port Orchard. Carsten Rode, Community Sales Manager for The Ridge, and fellow Windermere agent, boasts of over 100 homes currently under contract in their developments, with prices ranging from the mid $250's to the mid $260's.

For more helpful information and resources concerning real estate and living in Kitsap County, Washington, access my comprehensive website, www.KitsapLife.com and my other blogsite, www.SOUNDBITEBLOG.com