Bainbridge Island Real Estate June 2010

Reposted from  http://bprowse.com/bainbridge_island_market

Bainbridge Island residential properties were selling for a June median price of $655,000, about 43% higher than in May. This is a misleading statistic that means that the distribution of sales included more higher priced homes (homes that have probably been reduced in price to try to attract a buyer). It may be that the low interest rates are resulting in more mid price range sales even though 1st time buyer activity has fallen off. The more stable three month moving average of closed sale price rose about 9% from last month to $555,833 and is 14% lower than it was a year ago. The Kitsap County 3 month moving average median price is 2% lower than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 81% higher than a year ago. The 3 month moving average of closed sales is up 17% Countywide from a year ago. The 3 month moving average number of Bainbridge pending sales in June rose 54% from a year ago. The number of active listings on Bainbridge (260) surged upward from May by 17% is up 2% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 8.1 months, worse then 6.9 months in May but much better than a year ago. Bainbridge Island is a buyer’s market.