North Kitsap Real Estate Market - July 2011

By
Real Estate Agent with Prowse and Company

North Kitsap Real Estate Market Trends

 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 $270,000 at the end of July, 29% higher than a year ago and 23% lower than last month. The more stable 3 month moving average ($332,967) of closed sale price is 31% higher than a year ago.  We have low inventory, few sales, and lots of volatility. The Kitsap County 3 month moving average median price is about 3% lower than it was a year ago. The 3 month moving average of Kingston closed sales was 40% lower than a year ago, while the number of pending sales fell 44% 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 (77) is 6% higher than a year ago. Inventory was falling last year and is building now. The inventory turnover (total homes on the market divided by number sold last month) is 15.4 months, slower than the 13.0 month turnover reported last month and the 12.2 month turnover of a year ago. Kingston is still a buyer's market.

Kingston Real Estate - July 2011
Median Price3 mo Ave Price3 mo Ave Closed Sales3 mo Ave Pending SalesInventory Turnover (months)
July 2011 $270,000 332,967 5 5 15.4
June 2011 $349,000 309,467 5 6 13.0
July 2010 $208,725 253,480 8 9 12.2

 More about North Kitsap Market Trends

Posted by

Brenda Prowse
Broker/Owner - Prowse and Company

Certified Distressed Property Expert (CDPE)

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