North Kitsap Real Estate in May 2009
Using the example of Kingston - the largest housing market in North Kitsap - homes were selling for a May median price of about $325.000, 14% higher than a year ago, while the 3 month moving average of median closed sale price is up 5% compared to a year ago. Kingston prices fluctuate more than some of the other markets because of the lower listing and sales volume. Kitsap County’s 3 month moving average median price has fallen 11% over the past year. The 3 month moving average number of closed sales fell 60% from a year ago, while the number of pending sales is 83% higher than a year ago. The number of closed sales is down 11% Countywide from a year ago. The number of active listings in Kingston (62) is down 40% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 21 months (down from 33 months last month). Sales in North Kitsap seem to be slower than farther south in the County. Kingston is a buyer's market.
