During the month of July there were 46 [down 32 homes from June's closings] homes that sold in Port Orchard. These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available.
Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!
If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Port Orchard Washington.
Let’s look at those 46 Port Orchard homes -
Average List Price
- $280,124 [June - $240,390 -May -$246,917 - April -$246,162 -March -$245,815 February -$241,177 January - $245,351]
- $136 per sq ft
Average Sold Price
- $249,176 [June - $234,948 - May -$244,070 - April - $243,425 March -$241,747 February -$227,483 January -$239,603]
- $121 per sq ft
The average sq ft of these 46 Port Orchard homes was 2066 sq ft. These homes spent an average of 134 days on the market (DOM) The list to sale ratio for these homes was 88.95 percent. What that means is that buyers offered 88.95 of what the seller requested. Looks like there were some homes that came on the market way too high to take this figure down by about 10%.
Not a bad time to purchase a home in Port Orchard, Washington. Prices are down, interest rates are at an all time low you might want to look at what it means to you.
What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.
So what is the absorption rate at this point in time? Check here for the definition of absorption rates –Absorption Rates
If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis. If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.
“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed."
Author:
