Home Sales Trends and Prices for Kitsap County September 2012
{Note: In the event you got to this article from an older link, here is a link to the newest data for this category of monthly home sales in Kitsap County}
September was a great month for home sales in Kitsap County! The number of distressed properties sold is at an all time low of 18.1% since I started tracking the data in 2009! Better yet, homes sold have increased by about 22% compared to September of last year, showing an increasing trend in the Kitsap County real estate market!
The average selling price of homes this month was $262,271, which is significantly less than the $301,802 average for the month of August. In addition, the median selling price for the Month of September was $222,950, which was about $25,000 less than August’s median selling price. The drop in the average selling price and median selling price can be explained by a variety of influencing factors. One of the main factors is the type of homes sold. Kitsap County has a wide variety of properties available for sale ranging from waterfront, condominiums, and manufactured homes. If more expensive properties are sold in one month than another, it can greatly influence the average, and particularly the median, selling prices so it is more instructive to view the data over a longer period of time, and not put too much weight on monthly variations.
The number of homes sold in Kitsap County during the Month of September was 243, which is less than the number of homes sold in August and followed our seasonal expectations. The data followed a normal seasonal market decline.
One metric for assessing the health and trends of any real estate market is to compare home sales to the same period from one year ago. Compared to last September, 43 more homes were sold, which is a 22% increase. In addition there were 20 fewer distressed properties sold in September 2012 from the previous year. The significance of this will be determined by monitoring the trends in the coming months, but we view it as a positive development for the present time.
Thank You for visiting our blog. Be sure to visit often to get the most up-to-date information on Kitsap County real estate trends, prices and sales!
By Briana Wilson
Reviewed by Brian Wilson, Broker
19723 10th Ave NE; suite 200
Poulsbo, WA 98370
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