Reposted from http://bprowse.com/north_kitsap_market

Statistics here are for Kingston, the largest housing market in North Kitsap. Activity in Kingston should be representative of the other areas in North Kitsap. Kingston homes were selling for a month end median price of about $217,330 at the end of April, 60% lower than a year ago. Wow! You can see the volatility of this market, which has fewer sales and much larger price swings than more southerly parts of the County. The more stable 3 month moving average of closed sale prices is down 6% compared to a year ago.  The Kitsap County 3 month moving average median price is less than 1% higher than it was a year ago. The 3 month moving average number of Kingston closed sales rose 133% from a year ago, while the number of pending sales is up 114% from a year ago. Recall again that our current pending sales include pending short sales that may not close. The 3 month moving average of closed sales is up 20% Countywide from a year ago. The number of active listings in Kingston (70) is up 6% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 6.4 months (better than the 13.6 months last month). Kingston is still a buyer's market. 

Kingston Real Estate - April 2010
  Median Price 3 mo ave Price 3 mo ave Closed Sales 3 mo ave Pending Sales Inventory Turnover (months)
Apr 2010 $217,330 267,693 7 15 6.4
Mar 2010 $288,750 291,917 5 11 13.6
Apr 2009 $542,000 419,167 3 7 33