Poulsbo, WA

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 YTD median sale price of about $332,663 at the end of October, down about 6.3% from a year ago and about the same as last month. Poulsbo's October median sale price was $330,000, about 2.9% lower than in October 2007. Kitsap County YTD median price has fallen 9.5% over the past year. The number of Poulsbo closed sales YTD is almost the same as a year ago, and the number of YTD pending sales is down by 24%. The large difference in pending versus closed sales reflects the closing of many new construction sales that had been shown as pending for many months prior. YTD closed sales for Kitsap County have dropped 24% compared to last year. That portion of currently pending sales coming from new construction presales is 18 of 24. The Poulsbo listing inventory (144) is 2.9% higher than a year ago but has fallen 6% since last month. The inventory turnover (total homes on the market divided by number sold last month) is 7.2 months, much better than some of the other areas, but also skewed by the closings of a batch of new construction homes that were sold months ago.

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 YTD median sale price of about $334,126 at the end of September, down about 5.9% from a year ago and down 1% from last month. Poulsbo's September median sale price was $325,900, about the same as in September 2007. Kitsap County YTD median price has fallen 8.8% over the past year. The number of Poulsbo closed sales YTD is 1% lower than a year ago, and the number of YTD pending sales is down by 26%. The large difference in pending versus closed sales reflects the backlog of new construction pending sales that are now closing. There was a drop of 28% in YTD closed sales compared to a year ago for Kitsap County as a whole. That portion of currently pending sales coming from new construction presales is 22 of 41. The pace of new construction sales has fallen along with the rest of the market. The Poulsbo listing inventory (171) has risen by 12% compared to a year ago but has fallen 11% since last month. The inventory turnover (total homes on the market divided by number sold last month) is 8 months - better than average but a return to a more expected turnover rate from the abnormally good 5 months reported last month.

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 YTD median sale price of about $336,718 at the end of August, down about 5.3% from a year ago and down 2% from last month. Poulsbo's August median sale price was $315,000, down 10% from 2007. Kitsap County YTD median price has fallen 8.5% over the past year. The number of Poulsbo closed sales YTD is the same as a year ago, and the number of YTD pending sales is down by 32%. The large difference in pending versus closed sales reflects the backlog of new construction pending sales that are now closing. There was a drop of 27% in YTD closed sales compared to a year ago for Kitsap County as a whole. That portion of currently pending sales coming from new construction presales is 20 of 32. The pace of new construction sales has fallen along with the rest of the market. The Poulsbo listing inventory (171) has risen by 19.6% compared to a year ago and is up 3.6% since last month. The inventory turnover (total homes on the market divided by number sold last month) is 5 months - much better than elsewhere in the County and a big drop from 11 months in July. While we would not assume that this pace of sales in Poulsbo will continue, given the much lower pace elsewhere. 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.

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 median price of about $345,268 at the end of April, down about 3.2% from a year ago. Kitsap County median prices have fallen 5.3% over the past year. The number of closed sales YTD has is the same as last year, and the number of YTD pending sales fell by 16%. This compares to a drop of 25% in YTD closed sales compared to a year ago for Kitsap County as a whole. A large portion of the currently pending sales is from presales at one moderately priced new construction development - homes that never appeared as active listings. The Poulsbo listing inventory (170) has risen by 53% compared to a year ago and is up 6% since last month. The inventory turnover (total homes on the market divided by number sold last month) is 9.4 months. Calculating inventory turnover in this manner is artificially low since a number of the new construction homes closing did not show as active listings.