Bremerton Real Estate in May 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 $175,450 at the end of May, about 13% lower than a year ago but up 27% from last month. The more stable 3 month moving average of median price for closed sales has fallen 16% from a year ago. Kitsap County’s 3 month moving average median price has fallen 11% over the past year. Bremerton's 3 month moving average for number of closed sales is down 10% from a year ago (compared to a Countywide drop of 11%). The number of month end Bremerton pending sales is up 31% 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 (173) rose 3% from last month but is 31% lower than a year ago. The inventory turnover (total Bremerton homes on the market divided by number sold last month) is 10.8 months (up from 9.8 last month). The Bremerton market is still a buyers market, the lower price ranges are definitely selling better now.
