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Windermere Real Estate/West Sound, Inc.

Encouraging Signs for Real Estate Market

Posted on January 17, 2012
The National Association of Realtors sHood Canal waterfront home near Poulsbo WA with a view of the Olympic Mountainsees evidence of the beginnings of improvements in the real estate market nationally. Anecdotally, brokers, including me, say they are seeing more buyer activity in the local markets too. These two facts made me want to determine if this is reason for optimism in the part of the market I specialize in, waterfront and water view properties and the area I focus on, at the north end of Hood Canal.  
Looking specifically at unit sales of waterfront and water view properties south of Port Ludlow through Bridgehaven on the west side of Hood Canal, and from the Hood Canal Bridge south to the Bangor base on the east side, sales figures for 2010 and 2011 are nearly identical. However, in the fourth quarter of 2010, sales were well below 25 percent of the year's total, while in the fourth quarter of 2011 they were significantly above. See the table below for specifics.

 Sales of Waterfront and Water View Properties

East (Kitsap County) Side of Hood Canal

Year             Overall Unit Sales      Q4 Sales        Percentage of Sales in Q4

2010                        25                    4                          16.0

2011                        26                    10                        38.5


West (Jefferson County) Side of Hood Canal

Year             Overall Unit Sales      Q4 Sales        Percentage of Sales in Q4

2010                        16                    3                          18.8

2011                        15                    5                          33.3


Is there reason to believe that the data represent a trend and not an anomaly?  I believe so. Many of the buyers I have been talking to say they have been moved to action by the lower prices. I also believe that buyers are beginning to feel that prices have bottomed out, or at least that future price declines will be minimal. And, the local selling prices have largely borne that out.

With the more upbeat mood, the increased buyer activity and the upward trend in what is usually a slower quarter, there is reason to be optimistic about the local waterfront and water view home market in 2011.

Comments Posted on "Encouraging Signs for Real Estate Market"
1 Terra vista Trancoso
Posted July 26, 2018 12:05 PM

Brazil is the best real estate market to invest this year, the dollar is very high and the prices in Brazilian Reais are getting lower by the day. Very good investment opportunities!

2 real estate brokers in abu dhabi
Posted October 12, 2015 10:54 PM

Middle East is getting bigger and bigger in terms of real estate opportunities and some of the countries makes much more too but i must say if the above statistics are only for a particular area, region or a city, it is still lesser than what i have seen in the recent quarters hence it still needs bigger improvements and developers needs much more to build and offer to get bigger picture of real estate market.

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