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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
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December 08 West Sound Market Graphs
Posted on January 5, 2009
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). They can help you understand the market in terms of both absolute numbers and trends. The average list price is calculated using all the homes currently on the market. The average sales price is calculated using the sales over the past 90 days.
The graphs continue to show sluggish buyers markets, especially in BI. The average market times are continuing to increase in all three markets and are now at or near record levels. The average selling prices are also continuing to decrease in all three markets, with a more marked decrease in BI. As is typical for this time of year, the inventories are decreasing in all three markets.
Unlike some areas of the country that are in the news, homes are selling, though at a reduced pace. Unit sales are down about 50 percent compared to the same time last year in NK and SEJ and down 16 percent in BI. More moderately priced homes are selling at a faster rate than higher-end homes (contributing to the overall decrease in average selling price), and the homes that are priced more competitively or stand out from the crowd have a big advantage.
Since the interest rates are declining (they were 5% as of January 5, 2009), and my sources tell me that funds are still available for buyers with good credit, this is a great time to be buying. If you are selling and can be flexible in your pricing, or your house is the best one around in your class, you can be among the successful sellers.
Since the interest rates are declining (they were 5% as of January 5, 2009), and my sources tell me that funds are still available for buyers with good credit, this is a great time to be buying. If you are selling and can be flexible in your pricing, or your house is the best one around in your class, you can be among the successful sellers.
The graphs are dynamic and will contain updated data as of the month you are viewing them. To view the graphs, click on the link below:
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