January 2014 Kingston, Hansville & Port Gamble Real Estate Sales

 

2014 home sales in Kingston, Hansville & Port Gamble starts off matching December’s 13 homes sold. However, there was a sharp decrease in the average selling price. This month, 62% of home sales were distressed properties with a majority being Bank owned (REO’s). In addition, the sale for this month declined to the lowest value in more than 18 months at $185,900.

 

The Average initial asking price of homes sold in these areas has during the past 6 months been between $300,000-$500,000, with the exception of October when it was $280,000. This month, it dropped down to the lowest it’s been in over a year at $276,900. We believe the January data is an anomaly and not indicative of a trend, so we expect to see the numbers increase and fall more in-line with seasonal and overall market trends in the coming months.

 

Here is some detailed data for home sales this month:

 

Average Original $	$276,900
Average Listing $	$243,900
Average Sale $	$227,733
Average Median $	$185,900
$/sq. ft.	$123
# Homes Sold	13
# Distressed	8
% Distressed	62%
# Short Sale	2
# REO	6
CDOM	104
DOM	90

If you would like any addition information on real estate activity this month or prior months, feel free to contact us!