Bremerton WA Real Estate Market Report Recap |December 2008

Here is the Real Estate Market Activity for January – December 2008.  This is the last Market Activity Report for 2008!  I have put a link to all of the others at the end of this post.  In the year 2009 I am going to come up with something a little more fun.

On December 31st there were 460 homes for sale with 2 of those homes listed as a contingent sale and 14 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection or a feasibility study.

Once the home inspection has taken place these 14 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS) – this will be changing in December.  You will be able to go to broker websites and see the status. Ie:

Public Display of Pending Listings

In response to the request from the membership, effective Monday, December 15^th, listings in the Pending, Pending Inspection, Pending Feasibility, and Pending BU Requested status will be available for public display on broker websites.

During the Month of December 55  homes were new to the Bremerton area Real Estate Market.

During the Month of December 40 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $199,950 with a market time of 109 days (median).

During the Month of December 45 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 94 days (median) and sold for a median price of $199,500.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

The Absorption rate in the Bremerton area is 50.054 weeks or approximately 11.55 months of inventory if the current conditions remain unchanged. These figures have decreased this month by approximately 8 weeks. Less inventory is the reason.  Remember absorption rates track trends. Let’s hope that 2009 will see us in the normal market of between 5 and 6 months of inventory. Normal markets in my honest opinion are best for everyone.

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.

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 WA 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.

The Year 2008 Bremerton WA Real Estate Market Report Recap

• Bremerton WA Real Estate Market Report Recap | January 2008
• Bremerton WA Real Estate Market Report Recap | February 2008
• Bremerton WA Real Estate Market Report Recap | March 2008
• Bremerton WA Real Estate Market Report Recap | April 2008
• Bremerton WA Real Estate Market Report Recap | May 2008
• Bremerton WA Real Estate Market Report Recap | June 2008
• Bremerton WA Real Estate Market Report Recap | July 2008
• Bremerton WA Real Estate Market Report Recap | August 2008
• Bremerton WA Real Estate Market Report Recap | September 2008
• Bremerton WA Real Estate Market Report Recap | October 2008
• Bremerton WA Real Estate Market Report Recap | November 2008
  

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

Bremerton WA Real Estate Market Report Recap |November 2008

Here is the Real Estate Market Activity for January – November 2008.  Check back each month to see the monthly 2008 trend for Bremerton WA.

On November 30th there were 591 homes for sale with 6 of those homes listed as a contingent sale and 58 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection or a feasibility study.

Once the home inspection has taken place these 58 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS) – this will be changing in December.  You will be able to go to broker websites and see the status. Ie:

Public Display of Pending Listings

In response to the request from the membership, effective Monday, December 15^th, listings in the Pending, Pending Inspection, Pending Feasibility, and Pending BU Requested status will be available for public display on broker websites.

During the Month of November  96 homes were new to the Bremerton area Real Estate Market.

During the Month of November 58 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $199,725 with a market time of 111 days (median).

During the Month of November 44 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 94 days (median) and sold for a median price of $225,500.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

The Absorption rate in the Bremerton area is 58.22 weeks or approximately 13.43 months of inventory if the current conditions remain unchanged. These figures have increased.Wow! This figure sure jumped – with only 44 homes sold that is the reason.  Remember absorption rates track trends. Hope this trend reverses it’s self!

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.

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 WA 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

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Bremerton WA Real Estate Market Report Recap | October 2008

Authored By: Jo Soss : WestSoundLive.com

Here is the Real Estate Market Activity for January – October 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.

On October 31st there were 570 homes for sale with 5 of those homes listed as a contingent sale and 34 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection or a feasibility study.

Once the home inspection has taken place these x homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)

During the Month of October 91 homes were new to the Bremerton area Real Estate Market with a median price of $226,000.

During the Month of October 40 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $208,400 with a market time of 97 days (median).

During the Month of October 78 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 110 days (median) and sold for a median price of $224,000.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

The Absorption rate in the Bremerton area is 31.67 weeks or approximately 7.30 months of inventory if the current conditions remain unchanged. These figures have increased. Remember absorption rates track trends.

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.

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 WA 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

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Bremerton WA Real Estate Market Report Recap | September 2008

Here is the Real Estate Market Activity for January – September 2008.  Check back each month to see the monthly 2008 trend for Bremerton WA.

On September 30th there were 643 homes for sale with 2 of those homes listed as a contingent sale and 67 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection or a feasibility study.

Once the home inspection has taken place these 67 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)

During the Month of September 116 homes were new to the Bremerton area Real Estate Market with a median price of $236,250

During the Month of September 108 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $221,250 with a market time of 102 days (median).

During the Month of September 66 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 87 days (median) and sold for a median price of $227,275.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

The Absorption rate in the Bremerton area is 42.21 weeks or approximately 9.74 months of inventory if the current conditions remain unchanged. These figures have increased. We are now have 2 more months of inventory than what the stats showed in August.  Of course the sold count for September was down while the homes new to the market increased just slightly. Pending in September was a good healthy number and so next month the figures will reflect that data. Remember absorption rates tracks trends. 

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.

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 WA 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

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Bremerton WA Real Estate Market Report Recap | August 2008

Here is the Real Estate Market Activity for January – August 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.

On August 31st there were 551 homes for sale with 4 of those homes listed as a contingent sale and 57 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection. Once the home inspection has taken place these 57 homes will either go back on the market or be listed as pending.  These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)

During the Month of August 114 homes were new to the Bremerton area Real Estate Market with a median price of $248,500

During the Month of August 78 homes went under contract and were removed from the active Bremerton homes data base.  The median price for Bremerton area homes was $223,600 with a market time of 114 days (median).

During the Month of August 75 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse.  These Bremerton area homes were on the market 104 days (median) and sold for a median price of $226,600.

The Absorption rate in the Bremerton area is 32.41 weeks or approximately 7.35 months of inventory if the current conditions remain unchanged.

An absorption rate is the mathematical relationship of supply and demand.  The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

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.

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 WA 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

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Bremerton WA Real Estate Market Report Recap | July 2008

Here is the Real Estate Market Activity for January – July 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.

On July 31st there was 565 homes for sale with 1 of those homes listed as a contingent sale and 57 of homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and excepted by the seller with the condition of the home inspection. Once the home inspection has taken place these 57 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)

During the Month of July 113 homes were new to the Bremerton area Real Estate Market with a median price of $245,000

During the Month of July 33 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $229,500 with a market time of 80 days (median).

During the Month of July 87 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 77 days (median) and sold for a median price of $229,950.

The Absorption rate in the Bremerton area is 31.03 weeks or approximately 7.14 months of inventory if the current conditions remain unchanged. This figure has really improved for the Bremerton area.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

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.

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 WA 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

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Bremerton WA Real Estate Market Report Recap | June 2008

Here is the Real Estate Market Activity for January – June 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.

There are currently 691 homes for sale with 5 of those homes listed as a contingent sale and 43 of those listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and excepted by the seller with the condition of the home inspection. Once the home inspection has taken place these 44 homes will either go back on the market or be listed as pending and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS)

During the Month of June 182 homes were new to the Bremerton area Real Estate Market with a average price of $291,686.

During the Month of June 61(29 more than May!) homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $235,000 with a market time of 73 days (median).

During the Month of June 55 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 68 days (median) and sold for a median price of $229,950.

The Absorption rate in the Bremerton area is 54.45 weeks or approximately 12.70 months of inventory if the current conditions remain unchanged. That figure sure looks bad. However, if you look at the pendings for June which will close in July – July’s figure should really improve the months of inventory.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

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.

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 .

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

Bremerton WA Real Estate Market Report Recap | March 2008

Here is the Real Estate Market Activity for January – March 2008. Check back each month to see the monthly 2008 trend for Bremerton WA.

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 WA 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

Bremerton WA Real Estate Market Report Recap | January 2008

Real Estate Market Activity for January 2008. I am amazed that January has already hit the “stats” book!! Check back each month to see the monthly 2008 trend for Bremerton WA.

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