Bremerton Real Estate in June 2009
Statistics we refer to are for that part of Bremerton encompassing the downtown core and west to Kitsap Lake. The market for other parts of Bremerton and its suburbs should have similar trends. Homes in Bremerton were selling for a month end median price of about $193,500 at the end of June, about 4% lower than a year ago but up 10% from last month. This apparent rise indicates that the distribution of sales has changed rather than that prices are rising. The more stable 3 month moving average of median price for closed sales has fallen 12% from a year ago. Kitsap County's 3 month moving average median price has fallen 10% over the past year. Bremerton's 3 month moving average for number of closed sales is down 9% from a year ago (compared to a Countywide drop of 3%). The number of month end Bremerton pending sales is up 41% from last year, but understand that some of these are short sales or other types that may fall apart or not close in the near future. The number of Bremerton active listings (157) rose 9% from last month but is 37% lower than a year ago. The inventory turnover (total Bremerton homes on the market divided by number sold last month) is 5.4 months (up from 10.8 last month). The Bremerton market is probably still a buyers market because of shadow inventory that has been pulled off unsold, but the lower price ranges are definitely selling better now.
Total listings on the market by month for Bremerton
Number of Closed Sales each month for Bremerton
Variations in Median Price Month by Month for Closed Sales in Bremerton
