Kitsap Real Estate Blog

Well, the party had to end sometime but most sellers probably wish that our Bremerton real estate, Silverdale real estate, Port Orchard real estate and Poulsbo real estate housing markets could have kept on for little longer. Is it really so bad? If you look at sales volume (units sold) the news can be discouraging. According to the Northwest Multiple Listing Service Statistics total units sold for year to date (YTD) November 2005 was 4,175. For YTD November 2006 that total was 3,688. That is an 11.67% drop from year to year.

Other stats support the observation of a slowdown. Average days on market for homes sold went up from 58 days to 85 days. However the average price for Kitsap real estate actually increased from $249,950 for YTD 2005 to $275,000 for YTD 2006. Interesting. This fact can be influenced by a lot of things so it is not possible to say that prices have risen by that same amount but it is NOT indicative of a housing value bust for Kitsap County real estate.

Good News For Buyers of Kitsap real estate.

This may be the pause that refreshes for buyers. Sellers will be discouraged from demanding fast escalating prices that continually push affordability away, especially from first homebuyers. However, buyers can purchase now to fulfill their real needs and be confident that it is unlikely that they will loose value in the near term because of falling prices.

What moves Kitsap real estate markets?

Most experts look at employment trends as a primary indicator. Gains or losses in average household income, migration patterns, new construction Port Orchard homes, Bremerton houses for sale supply, transportation improvements and commuting patterns, pressures from neighboring counties, say Silverdale real estate as an alternative for Seattle area real estate all have an influence. What should the average Kitsap real estate homeowner, homebuyer or investor be looking at when making buying or selling decisions? We will take a look in detail at these factors and invite other experts and professionals to share their Kitsap real estate insider secrets with us so that we will make better informed decisions about buying, selling or leasing Kitsap County real estate.

Be sure to post your comments or questions and we will address them as we go along. Until the next post!

Jim Freeman