Real Estate Market Report/Conditions in Kitsap County WA for 12/06/2007
The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for December 2007, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (Data for Bainbridge Island WA is included below)
Current Market Conditions: Area 141 (South Kitsap West of Hwy. 16) still has the highest ratio of List Price vs. Sale Price with 102%. The lowest ratio was 95% for Area 161 (Hansville). Shortest Days on Market (DOM) was Area 166 (Poulsbo) at 63, and Area 150 (E. Central Kitsap) coming in 2nd with 69. Longest DOM goes to Area 163 (Port Gamble) with 133, followed by Area 161 (Hansville) at 106. Inventory levels dropped by nearly 10%, with many Sellers electing to remove their homes from market over the Christmas Holidays. Overall, prices continue to hold fairly steady, as do the days on market.
Bainbridge Island WA Stats: (Area 170)
For Buyers: There is no better time than ‘NOW' to consider purchasing a home here in Kitsap County WA. Be sure to work very closely with your Mortgage Loan Officer throughout all stages of the transaction. Loan programs are changing constantly, and underwriters are imposing more and more conditions. A good Loan Officer will stay on top of these issues, and help to keep your loan process moving along smoothly.
For Sellers: Many Sellers are waiting until the market picks up again in the early Spring to put their home up for sale. You may want to consider an earlier launch date (early January) to give yourself a ‘jump' on the competition.
For 1st Time Buyers: You might want to consider one of my listings, the Gorman Condominiums, near beautiful Kitsap Lake in Bremerton WA. For only $ 129,950 your dream of home ownership can come true!
For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound WA, access my website, Kitsap Life.
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Inventory in our home town dropped from 75 resiential listings to 50 in a couple of months and very few sales. Most take their properies off for the holidays.
Usually, I think it's a good time to put your house on the market this time of year as there are buyers out there looking. For sellers this is good as there aren't as many homes on the market to compete against.
Jay - I would tend to agree with you. We see the same thing here. Although, I usually counsel folks to list right after New Years...
Looks as if your market is holding up pretty well with list and sold prices very close.. This is a time when buyers can usually make a very good deal .. rates are low and anyone who has a home on the market during the holidays is usually ready to sell.
Our market here is steady, a little slow, but steady. But I mainly posted to tell you that I LOVE your "Active Snow" picture. ;-)
Karen - thank you for stopping by! Yeah, my son, Elliot, really misses the Kansas winters. I much more prefer the weather here!...
Rich - thanks for sharing these statistics! Thank goodness our market is holding up. It really helps that we continue to educate our clients to help eliminate their fears.
Great market report Rich! Nicely done!