Bainbridge Island Real Estate Market October 2009
Bainbridge Island residential properties were selling for an October median price of $492,000, about 6% lower than in September. The more stable three month moving average of closed sale price fell 8% from last month to $536,333 and is 12% lower than it was a year ago. Sales at the top of the market lagged - there werre only 5 closed sales above $900k in Kitsap County last month. The Kitsap County 3 month moving average median price has fallen 6% over the past year. Note that prices tailed off at the end of last year so we expect this gap to close in the coming months. The 3 month moving average for Bainbridge Island's number of closed sales is 35% higher than a year ago. The 3 month moving average number of pending sales in October rose 57% from a year ago. The 3 month moving average of closed sales is up 8% Countywide from a year ago. The number of active listings on Bainbridge (208) is down 14% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 8.7 months, an improvement from the 9.3 month turnover rate of last month . Bainbridge Island is a buyers market.
| Median Price | 3 mo Ave Price | 3 mo ave Closed Sales | 3 mo ave Pending Sales | Inventory Turnover (months) | |
| Oct 2009 | $492,000 | 536,333 | 23 | 33 | 8.7 |
| Sep 2009 | $525,000 | 580,417 | 23 | 30 | 9.3 |
|
Oct 2008 |
$620,000 | 612,417 | 17 | 21 | 14.1 |
