Website Heading 1/12/06
Website Heading 1/12/06
Windermere Real Estate/West Sound, Inc.
Wayne Paulson | Poulsbo: 360-598-5291 | Port Ludlow: 360-437-9508 | Bainbridge Island: 206-780-1500 | wpaulson@windermere.com

North Kitsap, Southeast Jefferson and Bainbridge Island Real Estate Market Graphs

 

These graphs 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 77 percent of the average list price for NK, 89 percent for SEJ and 69 percent for BI. During the same period the average sales price for transactions that closed was over 98 percent of the average list price. This seemingly contradictory fact is actually a clear illustration of what happens when a property is overpriced - it does not sell. All properties that are on the market are included in the average list price. As a result, that average can be inflated by those properties that do not sell because they are overpriced. Only those properties that are properly priced, and therefore sell, are included in the average sales price.

The graphs continue to show sluggish markets, leaning towards a buyers market. The average market times are starting downward in all three markets, a normal occurrence following the seasonal slowdown at the end of the year. Inventories are increasing again in all three markets and this influx of new listings, along with some increase in sales activity, brings down the average time on the market. In NK and BI, and to a lesser degree SEJ, there are signs of increased activity, with buyer inquiries and open house attendance up.

When reviewing these graphs, remember that they represent averages, including problem properties that are on the market for a long period, hot properties that move quickly and builder's pre-sale properties that may not yet exist at the time they are put on the market. Specific price ranges and specific areas may also be different.

 

 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Windermere Real Estate/West Sound Inc. | 18570 State Hwy 305, Poulsbo, WA 98370 | Office: 360-779-5205 | Fax: 360-779-9549
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