North Kitsap Real Estate - February 2010
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 $297,000 at the end of February, 22% lower than a year ago. The low sales volume can produce large fluctuations when one or two high priced homes sell. The more stable 3 month moving average of closed sale prices is up 18% compared to a year ago. The Kitsap County 3 month moving average median price is about 4% higher than it was a year ago. The 3 month moving average number of Kingston closed sales rose 75% from a year ago, while the number of pending sales is unchanged from a year ago. Recall again that sales at the end of last year were very few and far between and that our current pending sales include pending short sales that may not close. The 3 month moving average of closed sales is up 55% Countywide from a year ago. The number of active listings in Kingston (67) is up 3% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 13.4 months (a little better than the 14.8 months last month). Kingston is still a buyer's market.
| Median Price | 3 mo Ave Price | 3 mo ave Closed Sales | 3 mo ave Pending Sales | Inventory Turnover (months) | |
| Fab 2010 | $297,000 | $295,333 | 7 | 6 | 13.4 |
| Jan 2010 | $290,000 | $288,000 | 8 | 4 | 14.8 |
|
Feb 2009 |
$383,000 | $250,333 | 4 | 6 | 13 |
