North Kitsap Real Estate Market - March 2011

By
Real Estate Agent with Prowse and Company

Statistics here are for Kingston, the largest of the remaining housing markets in North Kitsap. Activity in Kingston should be representative of the other nearby communities. Kingston homes were selling for a month end median price of about $247,500 at the end of March, 14% lower than a year ago and 28% higher than last month. Because of the relatively lower sales volume in Kingston, a couple high priced sales (or lack thereof) can make a big change in the statistics but may not mean much of change in the market. The more stable 3 month moving average ($233,333) of closed sale price is 24% lower than a year ago.  We have low inventory and few sales. The Kitsap County 3 month moving average median price is about the same as it was a year ago. The 3 month moving average of Kingston closed sales was the same as a year ago, while the number of pending sales fell 55% from a year ago. The 3 month moving average of closed sales is down 12% Countywide from a year ago. The number of active listings in Kingston (49) is down 28% from a year ago - very low. The inventory turnover (total homes on the market divided by number sold last month) is 12.2 months, slower than the 10.5 month turnover reported last month but somewhat better than the 13.6 month turnover of a year ago. Kingston is still a buyer's market.

  

Kingston Real Estate - March 2011
Median Price 3 mo Ave Price 3 mo Ave Closed Sales 3 mo Ave Pending Sales Inventory Turnover (months)
March 2011 $247,000 233,333 5 5 12.2
February 2011 $194,000 215,217 5 4 10.5
March 2010 $288,750 291,917 5 11 13.6

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Posted by

Brenda Prowse
Broker/Owner - Prowse and Company

Certified Distressed Property Expert (CDPE)

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