Kitsap County Home Sales & Trends January 2014

 

In January 2014 we see a marked improvement in number of homes sold and decreased days on the market (DOM) compared to January 2013. However, average and median selling price are nearly identical and we see an increase in distressed properties this year.

 

Distressed properties accounted for 32% of homes sold in Kitsap County during January. Most of these homes were bank Owned REO’s. The actual number of distressed properties were within an average range (71) However; with seasonally lower numbers of total homes Sold, they represented a higher percentage of the total sales. The last time distressed properties comprised this percentage of the market in March 2012. We expect the number of monthly distressed homes sold to remain in a consistent range, but as the number of total homes Sold increases during the Spring Market, we expect to see distressed sales to again comprise the low to mid 20% range.

 

Many of the areas in the county had low average selling prices and median sale prices, which is reflected in the county’s data for this month.

 

Here is additional data for real estate activity in Kitsap County during January 2014:

 

Average Original $	$276,698
Average Listing $	$264,937
Average Sale $	$256,519
Average Median $	$217,975
# Homes Sold	220
# Distressed	71
% Distressed	32%
# Short Sale	19
# REO	52
CDOM	103
DOM	80

As a whole, Kitsap County real estate has been booming! We saw some of the largest amount of home sales this past summer seeing and can only be expecting more good things to come. Feel free to contact us about buying or selling a home as we move out of the winter season into the busy season!