Poulsbo Real Estate Market - February 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 $292,000 at the end of February, down about 19% from a year ago. Poulsbo's February median sale price was $209,000, about 38% lower than in February 2007. Kitsap County 3 month moving average median price has fallen 16% over the past year. The 3 month moving average number of Poulsbo closed sales is down about 63% from a year ago. February pending sales in Poulsbo were down by 44%. The number of February closed sales for Kitsap County dropped 28% compared to last year. The Poulsbo listing inventory (149) is about the same as a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 30 months, up from 13 months last month.