Home sales on Bainbridge Island approach normal seasonal adjusted quantities, while prices remain strong
The Bainbridge Island Real Estate Market remains strong even while entering the normal seasonal slower period. Though Homes Sold dropped significantly from an extraordinary 51 homes sold in September, to 29 in October & 32 in November, the average selling price remained high at $577,323 in November, and is comparable to the high values we’ve seen since last March. Also, the November 2013 Median home price is about 6% above the median home price in November 2012
The 12 month moving average median home price was $468,358 in November, while the actual Median Selling price during the month of November was $505,000. The September Median home price was the the highest in nearly 3 years, at $597,000!
Distressed property sales remain very low compared with Kitsap County as a whole, at 4% for September, 10% for October, & 16% in November, which is the highest level in the previous 7 months, but again relatively low compared with most other areas in Kitsap County.
Table 1 below shows home sales data for the previous 3 months:
| September 2013 | October 2013 | November 2013 | |
| Avg. Original $ | $649,269 | $594,879 | $619,322 |
| Avg. Listing $ | $631,514 | $573,007 | $598,452 |
| Avg. Selling $ | $615,631 | $549,549 | $577,323 |
| Median Selling $ | $597,000 | $465,000 | $505,000 |
| $/sq ft | $236 | $286 | $258 |
| TTL # sold | 51 | 29 | 32 |
| CDOM | 81 | 123 | 81 |
| DOM | 53 | 104 | 70 |
| TTL # Distressed/% | 2/4% | 3/10% | 5/16% |
| SS | 1 | 1 | 1 |
| REO | 1 | 2 | 4 |
| October 2013 Prediction (from Sep) | November 2013 Predication (from Oct) | December 2013 Prediction (from Nov) | |
| Avg Selling $ | $536,721 | $547,747 | $542,330 |
| 12 mo running avg Median Selling $ | $454,338 | $471,129 | $468,358 |
| Previous 12 months Low median $ | $353,000 | ||
| Previous 12 months High median $ | $597,000 |
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Brian Wilson, Broker; mobile: 360-689-2466
-and-
Jana Salmans, Managing Broker, mobile: 360-509-9684
John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370
by Briana Wilson, reviewed and edited by Brian Wilson
Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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