Silverdale Real Estate Market - September 2009

Homes in Silverdale were selling for a September median price of about $275,000. This median is down 8% percent from a year ago. Silverdale's more stable 3 month moving average median closed sale prince in September of $284,333 was down about 4% from a year ago. The Kitsap County 3 month moving average median price is down 8% compared to a year ago. The 3 month moving average for Silverdale's number of closed sales was 67% higher than a year ago, compared to a rise in closed sales of 14% for the County as a whole. The number of Silverdale pending sales in September is up 7% from a year ago, but recall this number includes pending short sales that may not close. The number of active listings in Silverdale (93) is 23% lower than a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 5.5 months, same as last month and very good compared to many areas. Silverdale is looking now like a seller's market, but there appears to be a large shadow inventory of unsold homes not currently on the market that will deter prices from rising.

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