North Kitsap Real Estate Market November 2009
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 $275,000 at the end of November, 12% higher 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 down 15% compared to a year ago. The Kitsap County 3 month moving average median price has fallen 4% over the past year. The 3 month moving average number of Kingston closed sales rose 50% from a year ago, while the number of pending sales is 140% higher than a year ago. Recall our current pending sales include pending short sales that may not close. The number of closed sales is up 22% Countywide from a year ago. The number of active listings in Kingston (52) is down 43% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 8.7 months (worse than the 3.9 months last month). While we definitely see evidence of lower prices and higher sales, we suspect that Kingston will continue to be a buyer's market.
| Median Price | 3 mo Ave Price | 3 mo ave Closed Sales | 3 mo ave Pending Sales | Inventory Turnover (months) | |
| Nov 2009 | $275,000 | 292,167 | 9 | 12 | 8.7 |
| Oct 2009 | $292,000 | 281,167 | 9 | 14 | 3.9 |
|
Nov 2008 |
$245,000 | 344,167 | 6 | 5 | 13.1 |
