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 $309,500 at the end of September, 26% 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 down 22% compared to a year ago.  The Kitsap County 3 month moving average median price has fallen 8% over the past year.  The 3 month moving average number of Kingston closed sales fell 14% from a year ago, while the number of pending sales is 50% 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 14% Countywide from a year ago. The number of active listings in Kingston (59) is down 39% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 9.8 months (worse than the 13.6 months last month). Sales in North Kitsap still seem to be slower than farther south in the County. Kingston is a buyer's market.

 
Kingston Real Estate - September 2009
  Median Price 3 mo Ave Price 3 mo ave Closed Sales 3 mo ave Pending Sales Inventory Turnover (months)
Sep 2009 $309,500 333,833 6 12 9.8
Aug 2009 $242,000 323,667 7 10 13.6

Sep 2008

 $420,000 426,333 7 8 16.0