Silverdale Real Estate Market - August 2008

Homes in Silverdale were selling for a YTD median price of about $300,000 at the end of August, down 4.7 percent from a year ago. The August median closed sale of $275,900 was about 21% less than the August median a year ago. Kitsap County YTD median price has fallen 8.5% over the past year. The number of Silverdale YTD closed sales was down 39% from a year ago, compared to a drop in closed sales of 27% for the County as a whole. The number of pending sales YTD is down 39% from a year ago. The number of active listings in Silverdale (134) is 11% lower than a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 19 months, about double the value of last month. The Silverdale market has slowed down considerably. The large changes in Poulsbo (better) and Silverdale (worse) from last month shows that there are currently large month-to-month fluctuations in our market.