Silverdale Real Estate Market - July 2008

Homes in Silverdale were selling for a YTD median price of about $294,000 at the end of July, down 3.6 percent from a year ago. The July median closed sale of $248,000 was about 16% less than the July median a year ago. Kitsap County YTD median price has fallen 8.4% over the past year. The number of Silverdale YTD closed sales was down 36% from a year ago, compared to a drop in closed sales of 28% for the County as a whole. The number of pending sales YTD is down 38% from a year ago. The number of active listings in Silverdale (143) is 4.7% lower than a year ago but 11% higher than last month. The inventory turnover (total homes on the market divided by number sold last month) is 8.9 months (up from 7.9 last month). Silverdale remains one of the better markets in the County.