BREMERTON REAL ESTATE – BREMERTON HOUSING MARKET REPORT – JAN 2014

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The return to a Sellers’s* Market in Bremerton. Below are some market statistics for the Bremerton area for the month of January 2014. These homes all have Bremerton listed as their city in their physical address. During the month of January 2014  124 new listings became active in the NWMLS data base, which is a 15% increase from last year and a  74.648 % increase from December 2013.  Even with an increase of new listings Bremerton’s supply of inventory is low.

There were 90 homes that received offers and the seller and buyer came to terms and those homes are now pending inspection pending back up, pending short sale or PENDING and headed to closing. The pending transactions rose 6% over January of 2013 and was a 45% increase over December 2013. During January  65 homes that had been listed as pending closed and the change of ownership was recorded at the Kitsap County Courthouse. This is a 23% increase over January of 2013 and a 18% decrease over last month.
Months Supply of Inventory - Bremerton Jan 2014Sold Properties by Month Bremerton Jan 2014

*Using absorption rates can help you define markets. My definition breaks down like this…

Normal Market – Between 5 and 6 months of inventory. 

Seller’s Market – Between 1 and 4 months of inventory. 

Buyer’s Market – 7 months and higher. 

Now remember that absorption rates just track trends and isn’t an exact science!

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 Bremerton 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.”

Bremerton, WA Real Estate

 

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Author:Jo Soss

:: About the Author :: Jo Soss is the designated Broker and owner of Homefront Realty in Bremerton, Washington. Selling real estate in the Puget Sound area since 1994 she has vast knowledge of all aspects of a real estate transaction. Being a down to earth, service oriented professional you can expect the service you deserve from her.

2 Responses to “BREMERTON REAL ESTATE – BREMERTON HOUSING MARKET REPORT – JAN 2014”

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