Graph of Home Sales and Prices on Bainbridge Island including 18 months of data
Wow! Home sales and prices on Bainbridge Island for March 2012 were nothing short of Wow! I had to look at the data a couple times just to make sure of what I was seeing. The number of homes Sold were right in the middle of the average range, but the Average Selling prices were nothing short of stunning. Over 25% of the homes sold in March were over $1 Million! making it one of the strongest months for the sales of high-end luxury homes we’ve seen on the island for as far back as my data goes. Was this an anomaly? To an extent it was and I don’t expect we will see a repeat of that many $1 Million+ homes being Sold in April, however; reviewing the number of homes that have gone “Sale Pending” in the last 30 days (over 65), the number of homes selling is making a very strong jump which indicates a broadening strength in the general real estate and resale home market on Bainbridge Island. This is really great news for the entire North Kitsap Real Estate Market, because historically, as Bainbridge goes, so goes the rest of North Kitsap in the subsequent 3-6 month time period. Come back next month to see if the excitement continues.
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John L. Scott Real Estate
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