Real Estate Bainbridge Island

Summertime Successes | 2019

002_Summer 2019 Sales Success Header.jpg
 

Anyone who has owned a home knows that it can be a purchase based on an a high level of emotion. The Kitsap Peninsula is experiencing an surprisingly low inventory this summer, which means it is the perfect time to list your home. Low inventory in your area not only often results in fewer days spent on the market, it also favors increasing home prices - making this a seller’s market.

 
Sinclair Inlet Waterfront   4 Beds, 1.75 Baths, 3,926sf | Sold at $530,000  Represented Seller

Sinclair Inlet Waterfront

4 Beds, 1.75 Baths, 3,926sf | Sold at $530,000
Represented Seller

Fern Street Townhouse   3 Beds, 2.5 Baths, 1,344sf | Sold at $305,000  Represented Seller

Fern Street Townhouse

3 Beds, 2.5 Baths, 1,344sf | Sold at $305,000
Represented Seller

Country Living   3 Beds, 1.5 Baths, 1,574sf | Sold at $495,000  Represented Seller

Country Living

3 Beds, 1.5 Baths, 1,574sf | Sold at $495,000
Represented Seller

Hood Canal Waterfront   3 Beds, 2.75 Baths, 2,312sf | Sold at $691,000  Represented Seller

Hood Canal Waterfront

3 Beds, 2.75 Baths, 2,312sf | Sold at $691,000
Represented Seller

Shoreview Drive   3 Beds, 2 Baths, 1,540sf | Sold at $326,000  Represented Seller

Shoreview Drive

3 Beds, 2 Baths, 1,540sf | Sold at $326,000
Represented Seller

Rolling Bay Gardens   4 Beds, 2.75 Baths, 3,398sf | Sold at $839,000  Represented Seller

Rolling Bay Gardens

4 Beds, 2.75 Baths, 3,398sf | Sold at $839,000
Represented Seller

Northwest Mystic Court   3 Beds, 2.5 Baths, 1,752sf | Sold at $399,950  Represented Buyer

Northwest Mystic Court

3 Beds, 2.5 Baths, 1,752sf | Sold at $399,950
Represented Buyer

Hidden Heights   3 Beds, 3.5 Baths, 2,804sf | Sold at $715,000  Represented Buyer

Hidden Heights

3 Beds, 3.5 Baths, 2,804sf | Sold at $715,000
Represented Buyer

 

If you have considered selling your home, now is the time to embrace the last few lazy days of summer. I would love the opportunity to discuss options for your home sale and provide a personalized market analysis.

Cooler Housing Prices in Seattle while Suburbs Turn Up the Heat

Photo courtesy of 18634 NE Vaughn Milton Loop, Poulsbo // MLS #1428159

According to Paul Roberts of the Seattle Times, the Puget Sound housing market continues to splinter into hot and cold sectors — with substantially more heat the farther south you move — but the trend may be moderating as buyers and sellers adjust their expectations. In Kitsap County, the median home price increased 6.9% over the past 12 months, to $385,000, in May — a significant jump from April’s increase of 4.5%.

$385,000

↑ Median Home Price Increased 6.9% for Kitsap County

Yellow House with the Red Door, Featured in LOOK BOOK

My gorgeous new listing, The Yellow House with the Red Door is featured in Esperluette Creative’s new Look Book! Featuring outdoor spaces that beg for backyard bbq’s and summer gardens ready for relaxing, the Spring Look Book is simply hopping with private retreats.

Kitsap Winter Market Going Strong!

Photo courtesy of 18634 NE Vaughn Milton Loop, Poulsbo // MLS #1428159

Photo courtesy of 18634 NE Vaughn Milton Loop, Poulsbo // MLS #1428159

According to Seattlepi, following a frigid February, March made for an "eventful month for real estate," say brokers cited in the latest Northwest Multiple Listing Service report. Buyers hopped back into the market and kicked off peak real estate season in earnest around Seattle, with more choices and less competition.

But there are some areas that reported strong activity no matter what happened. Kitsap and the South Sound, for instance, reported heavy traffic at open houses and pending sales out-gaining new listings.

Market Spotlight: Kitsap County

By a short ferry ride across Puget Sound, the Kitsap Peninsula and its adjacent islands offer waterfront homes; stunning city, sound, and mountain views; and an easy getaway to bucolic scenes westward toward Hood Canal and the Olympic Peninsula. Areas in Kitsap County selected for community profiles include Bainbridge Island and Poulsbo. The former’s proximity to Seattle means that Bainbridge Island in particular enjoys the best of exurban and rural lifestyles: for some, a place of refreshment after the daily commute. For others, a weekend hideaway or reward for retirement. Kitsap County is also home to military families and contractors at the Puget Sound Naval Shipyard at Bremerton.

Like Pierce County, this year Kitsap County shifted from a balanced market to a seller’s market, with average monthly supply tightening to 2.7 from 4.1 in 2014 and 4.9 in 2013. The monthly median home price of all homes on the peninsula reached $285,000 in June 2015, and the annual median settled at $258,500, a 7.71 percent increase year-over-year. The county is sufficiently remote that new construction is more speculatively priced than that found in markets closer in. As a result, monthly median price changes for newly built homes in Kitsap County have seen more volatility over the past two years than new homes in the three counties of the Seattle MSA; nevertheless, the trend in 2015 was higher. New construction peaked in November 2015 at $356,005, and the annual median was $318,100—12.4 percent higher than in 2014, the largest year-over-year increase in central Puget Sound.


At 0.9 percent year-over-year, population growth in Kitsap County was the second slowest among the seven counties surveyed, and 21st among Washington’s 39 counties.19 Nearly 71 percent of homes in Kitsap County are SFRs, compared with 56.7 percent in King County. Slightly less than two-thirds (65.2 percent) of the former’s housing stock is on unincorporated land.20 This is six times the proportion in King County, but not as much as in Island or Jefferson counties—markets that are beyond the reach of most commuters, but provide remote workers and retirees with a soulful refuge from the city.


These markets also provide insight on a commonly heard story of the last two years: the notorious bidding wars for real estate among buyers in western Washington. This was primarily a King County phenomenon—and within King County, it observably varied from one area to the next. Of the other six counties, only Snohomish saw significant amounts of such bidding. Markets further from Seattle were less likely to see bidding wars than seller price concessions as a result of their owners mispricing properties for sale.