Graph of Home Sales & Prices in Kitsap County for 19 Months, through Dec 2011
{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}
December had an almost identical number of single family home sales in Kitsap County compared to the prior month, though prices slipped, with the average sale dropping by nearly 4% compared to the Sales data for November. Since this particular data set and chart includes all Single Family Residential Home Sales for all of Kitsap County and averages that data, if we see higher numbers of lower end sales and distressed property sales, then the averages will decline and this is what I believe occurred in December. In fact December did have a 7% rise in the proportion of Sales that were “distressed properties”, including REO’s (bank owned foreclosures), & Short Sales, so this accounts for the decline in the average sale price.
Month over month Sales of other non-distressed similar homes, remained stable and in fact while we do continue to see declines at the low end of the market (REO properties in dis-repair) and Short Sales, other market segments have actually improved month over month. Please refer to the related post for comparison of total home sales with distressed property sales.
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-Brian Wilson, Broker
John L. Scott Real Estate – Poulsbo
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