During the month of February there were 32. [10 homes less than January and a decline from December too.] homes that sold in Port Orchard. These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. 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 32 Port Orchard homes -
Average List Price
- $ $241,177 [$245,351 January]
- $126 per sq ft
Average Sold Price
- $227,483 [$239,603 January]
- $119 per sq ft
The average sq ft of these 32 Port Orchard homes was 1907 sq ft. These homes spent an average of 102 days on the market (DOM) [50 less than January - price is the key].
The list to sale ratio for these homes was 94.32 percent. What that meas is that buyers offered 94.32 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 and with the incentives from the government you might want to look at what it means to you. In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here
It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010
So what can $6,500 really do? Incentive for “step-up” buyers
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
Using the formula and only including active and contingent homes on the market the absorption rate for January would be 12.78 months, up from 8.9 in January. There are 410 homes currently on the market – ouch! We had been down to 6 months in the last quarter of 2009. Of course remember we are looking at a trend, so as we go through 2010 we will get a better picture. Spring is almost here and the tax credit is going to expire in April - I hope this spurs the market!
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."
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About the Author...
Jo began her real estate career back in 1994 and soon found out that she loved selling real estate and that she was really good at it! Lots of people sell real estate, but not everyone is good at it. Jo brings to her clients the commitment to work hard and have fun along the way. As Jo continues to learn the technology of today to be on the cutting edge of multimedia she takes pride in her ability to keep her trademark "old-fashioned" customer service alive. If you are looking to sell or purchase a home in Kitsap County call her office today. You can also find out more about the area by visiting her blog www.WestSoundLive.com or her web sites www.HomeFrontRealtyOnline.com
DISCLOSURE OF MATERIAL CONNECTION: http://cmp.ly/0
During the month of December there were 49. [21 homes less than November] homes that sold in Port Orchard. These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. 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!
During the month of May there were 48 homes that sold in Port Orchard ( 10 less than in April). These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. 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!
During the month of April there were 58 homes that sold in Port Orchard ( 6 more than in March). These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. 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!
During the month of February there were 32 homes that sold in Port Orchard. These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. 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!
