North Kitsap Real Estate May 2010
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 $312,715 at the end of May, 4% lower than a year ago. The more stable 3 month moving average of closed sale prices is down 32% compared to a year ago - this has been affected by the very low median price of last month. The Kitsap County 3 month moving average median price is 3% higher than it was a year ago. The 3 month moving average number of Kingston closed sales rose 350% from a year ago, while the number of pending sales is up 75% 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 25% Countywide from a year ago. The number of active listings in Kingston (77) is up 24% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 7.7 months (worse than the 6.4 month turnover reported last month, but much better than a year ago). Kingston is still a buyer's market. Reposted from http://bprowse.com/north_kitsap_market
| Med price | 3mo price | 3 mo. Ave. closed sales | 3 mo. Ave. Pending Sales | Inventory Turnover (months) | |
|---|---|---|---|---|---|
| May 2010 | $312,715 | 272,932 | 9 | 14 | 7.7 |
| Apr 2010 | $217,330 | 267,693 | 7 | 15 | 6.4 |
| May 2009 | $325,000 | 399,833 | 2 | 8 | 20.7 |
