January’s number of homes sold match December, but average selling price decreases.
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!
Brian Wilson, Broker; 360-689-2466
-and-
Jana Salmans, Managing Broker; 360-509-9684
John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370
Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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