Poulsbo Real Estate Market - March 2009

Statistics we refer to are for that part of Poulsbo encompassing the downtown core, from the head of Liberty Bay southeast to Ne-Si-Ka Bay, including parts north to Sawdust Hill Rd. The market for other parts of Poulsbo and its suburbs should have approximately similar trends. Homes in Poulsbo were selling for a three month moving average median sale price of about $279,000 at the end of March, down about 19% from a year ago. Poulsbo's March median sale price was $323,000, about 8% lower than in March 2008. Kitsap County’s 3 month moving average median price has fallen 15% over the past year. The 3 month moving average number of Poulsbo closed sales is down about 45% from a year ago. March pending sales in Poulsbo were up 18%. The number of March closed sales for Kitsap County dropped 21% compared to last year. The Poulsbo listing inventory (141) is 12% lower than a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 8.8 months, improved from 30 months last month.

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