Bremerton : Silverdale : Port Orchard : Poulsbo

 

During the month of May there were 63 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 63 Port Orchard homes -

Average List Price

• $246,917 [April $246,162 -March -$245,815 February -$241,177 January - $245,351]
• $136 per sq ft

Average Sold Price

• $244,070 [April - $243,425 March -$241,747 February -$227,483 January -$239,603]
• $134 per sq ft

The average sq ft of these 63 Port Orchard homes was 1810 sq ft. These homes spent an average of 92 days on the market (DOM) The list to sale ratio for these homes was 98.84 percent. What that meas is that buyers offered 98.84 of what the seller requested.

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."

Week eight- A weeks worth of market data for the Port Orchard real estate community. Here is the real estate market data between Monday, May 31st through Sunday, June 6th.

Each week I will give an update that will include the previous week, Monday through Sunday. Might be fun. My new IDX site (home search site) went live a couple of weeks ago, so I am able to embed in each post some new data.

Hope you have a great week! If you need any real estate help just let me know - call the office 360-830-6195, or my cell 360-990-1433 or send a text to 360-990-1433 or email me. I would love to help you with your real estate needs.

Port Orchard Real Estate Market
Residential homes on the market - 545
Pending this last week - 10 [down 4]
Sold/Closed this last week 8 [down 12]

Virtual Shopping Shout Out | West Sound Landscaping Port Orchard WA | Gravel

 

West Sound Landscaping

[253] 857-3378

I love to shop online! I think it stems from commuting for several years from South King County to Redmond and being in my car for several hours during the day. Or, it might be because I spent the late 1970's and early 1980's living in a very small town in Eastern Washington and had to either drive several hours to Wenatchee or the Tri-Cities, so if I can shop online I WILL.

Shopping for some items online - or virtually is something that is very attractive to lots of DIY'ers!  I like nothing more than calling up a company - getting a bid and placing an order without entering the physical storefront.  I have met several local area businesses this way. 

One is - WEST SOUND LANDSCAPING in Port Orchard WA.  I was looking for gravel and I really didn't want to go to all of the local landscape yards so I started to ask around.  This business came from a gravel company in Port Orchard that doesn't deliver small amounts.  So you could say it was a referral.  I had done my research on what type of gravel I needed so that when I called I was able to speak with the order desk with some kind of knowledge. 

This was easy! Awesome phone customer service. Awesome delivery communication and awesome delivery customer service.

Because of the service I received I have passed along this company's information to several of my new homeowners.  I would use this company again in a heartbeat!

 

View Larger Map

 

			Number of Sales		Median Sale Price
	Mar-09		195		$240,000
	Mar-08		215		$260,500
	Feb-09		131		$247,000
	Feb-08		216		$265,000
	Jan-09		117		$235,000
	Jan-08		160		$270,000
	2009 YTD		665		$240,000
	2008		2693		$260,000

So, is it a good time to buy real estate in the Bremerton, Silverdale, Port Orchard area of Kitsap County?  The question isn't as easy to answer as you may think.  Do you wait for the "bottom out"? How will you know when we hit bottom?  Do you chance waiting and then find yourself buying on the "upswing"? These are all very important questions and questions that many real estate experts are trying to answer for their buyers.  

Right now I don't think that any real estate professional can really give the perfect advice.  You see we have all the data but it is all really new data. The trends have changed, the market has changed and we have had to really study and become involved with market data more so than a few years ago. 

There are times when I am out showing a home and answering questions and I have said, "I don't know".  Buyers want to know what they can "get". Well, everyday there are strange things happening so the "get" part is a mystery.  I tell my buyers what others have "got" and really some have "got a lot" and some have not.

Just like real estate is local and "one size doesn't fit all" the same holds true for buyers. This may be the perfect time for you to buy and it may not.  What we need to do is find out what is best for you. That is why you need a real estate agent that will help you buy a home and not just sell you a home. There is a difference. Call me and we can discuss that in more detail.

Does a buyer's market mean you can "low ball" or ask for a ton of concessions? The answer is  - not really.  Within a "buyer's market" we sometimes find a "seller's market" in certain areas or price ranges.  So we need to still do our research which will include a comparative analysis of homes when we find the home you want to write a purchase and sell agreement on. 

Being a buyer's market you now have the opportunity to take some time, do some research and relax a little.  We are not going to see as many multiple offers, we are going to be able to ask for some concessions like closing costs, home warranty plan, appliances - there is some room for flexibility because the seller knows the buyer pool is a little on the low side. 

As a buyer you still must realize that the seller has goals too and some might even be offended if you offer a lower price.  But don't worry through the research process we will know how to overcome this objection with evidence we have gathered with our comparative analysis. 

 

Posts of Interest

First Time Homebuyer

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It's Official - 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Kitsap Area Real Estate Market Stats

• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008

Kitsap Real Estate FYI

• Kitsap County | Pending Sales | What a week
• Bremerton Real Estate | New Construction Homes
• Kitsap County Home Buyer's | Closing Costs Paid by Seller

 

Here is the clip from Port Orchard.  Did you attend a "Tea Party" today?  I was unable to attend but was there in spirit.  I really don't mind paying taxes for the services we are provided but I do mind paying taxes when the government just can't get a handle on spending. My family has had to tighten our budget and so should the country. 

I am just so frustrated by the lack of respect that DC has for MainStreet!

 

 

Port Orchard :  During the year of 2008 there were 684 homes sold in Port Orchard with an Average Sales Price of $288,403.  I would rather use Median and for 2008 the Median Sales Price was $255,000.  The Average Market Time was 112 days and the Median Market Time was 82 days. 

Homes sold very close to the list price during 2008.  Average list to average sale ratio for these 684 homes was 97.59% while the Median list to sale ratio was 100% and yes I checked that figure twice!  It seems that we are pricing property correctly.  So how is that pricing compared to the year 2007?

Port Orchard : During the year of 2007 there were 914 homes sold in Port Orchard with an Average Sales Price of $302,031.  The Median Sales Price was $280,949.  The Average Market Time was on average 97 days and the Median Market Time was 70 days.  Let's look at the 2007 list to sale ratio.  the Average list to average sale ratio for the 914 homes was 98.68% while the Median list to sale ration was 98.60%. 

There were 230 more homes sold in 2007 than in 2008.  The Average List Price for 2008 was $17,670 lower than for the year 2007.  The Median List Price for 2008 was $29,950 lower than for the year 2007.  Those figures just don't look too fun do they?  So what was the actual sale price differences?  The Average Sales Price for 2008 was $20,572 lower than for the year 2007.  The Median Sales Price for 2008 was $25,949 lower than 2007. 

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. 

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.

Similar Posts:

• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed