The graphs reached through the link below show the average market time, average list price and average sales price for homes over the past several years for North Kitsap County (NK), Southeast Jefferson County (SEJ) and Bainbridge Island (BI). At the time these graphs were created, the average sales price was 78 percent of the average list price for NK, 72 percent for SEJ and 64 percent for BI. These figures are down from historic levels.

The graphs continue to show buyers markets. A more detailed analysis, however, shows that for certain midrange price points the pace of sales at the current inventory level yields less than six months of inventory. That meets a common definition of a seller�s market for those price points.

For now, average selling prices seem to have leveled. The selling prices in all three areas are hovering at levels last seen in 2005, with some relatively sharp swings around those levels. I believe selling prices in our area will remain flat for the next one to two years, although there is at least one national publication that suggests otherwise.

Unit sales volumes are still down from levels earlier in the year in all three areas, with the lowest level in SEJ where the unit sales in a recent week represented a little over 1/2% of the available inventory. That is a rate of just over 30% inventory turnover in a year.

The inventory growth in all three areas is slowing, typical for the season. The inventory is still up over 13% compared to last year in SEJ.