May 2013 Home Sales Data for Hansville, Kingston & Port Gamble
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As we predicted in last months report, the number of homes sold in the combined market area of Hansville, Kingston & Port Gamble was near a record level with 22 homes sold in May.
We also predicted the median selling price would dip from the April level of $310,000 down to about $260K and it did. The actual median selling price for May was $256,000, so our projections were within ~98.5% of the actual results for May.
The average selling price increased from approximately $317,000 in April to about $340,000 in May. This increase was largely due to some higher end home sales in the area, including one in Kingston that was over $1.8 Million. Many of these homes had been on the market longer than average so the average days on market for the homes sold during in these areas during May also increased.
Distressed properties comprised 22% of the sales in these areas during May, which is up slightly form the April level of about 18%, but still at the lower end of the range we’ve seen over the past 2+ years.
Looking ahead to June, we predict that the number of sold homes will continue at near record levels, however, it appears that sales of distressed properties will be rising to about 30% of the sales in June, which will put pressure prices, so for June, we are projecting the Average selling price will dip to near $300K, and the Median will also decline to below $250K.
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Brian Wilson, Broker cell: 360-689-2466 -and-
Jana Salmans, Managing Broker cell: 360-509-9684
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370
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