Kitsap County Real Estate Market Data January 2009

Below are some market statistics for Kitsap County for the month of January 2009.  Currently there are 1830 homes available for sale in Kitsap County.  During the month of January 417 new listings became active in the NWMLS data base.  There were 197 homes that received offers and the seller and buyer came to terms and those homes are now headed to closing.  During January 114 homes that had been listed as pending closed and change of ownership was recorded at the Kitsap County Courthouse.  We do have a lot of inventory in Kitsap County.

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.

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

Port Orchard Real Estate Market Data 2007 vs 2008

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

Silverdale Real Estate Market Data 2007 vs 2008

Silverdale :  During the year of 2008 there were 152 homes sold in Silverdale with an Average Sales Price of $316,859.  I would rather use Median and for 2008 the Median Sales Price was $277,750.  The Average Market Time was 110 days and the Median Market Time was 82 days.

Homes sold fairly close to the list price during 2008.  Average list to average sale ratio for these 152 homes was 96.19% while the Median list to sale ratio was 95.80%. It seems that we are pricing property correctly.  So how is that pricing compared to the year 2007?

Silverdale : During the year of 2007 there were 215 homes sold in Silverdale with an Average Sales Price of $333,303.  The Median Sales Price was $315,000.  The Average Market Time was on average 87 days and the Median Market Time was 69 days.  Let’s look at the 2007 list to sale ratio.  the Average list to average sale ratio for the 215 homes was 98.17% while the Median list to sale ration was 98.43%.

There were 63 more homes sold in 2007 than in 2008. The Average List Price for 2008 was $10,110 lower than for the year 2007.  The Median List Price for 2008 was $30,l100 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 $16,444 lower than for the year 2007.  The Median Sales Price for 2008 was $37,250 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
• Port Orchard Real Estate Market Data 2007 vs 2008

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

Bremerton Real Estate Market Data 2007 vs 2008

Bremerton :  During the year of 2008 there were 794 homes sold in Bremerton with an Average Sales Price of $243,507.  I would rather use Median and for 2008 the Median Sales Price was $229,950.  The Average Market Time was 88 days and the Median Market Time was 63 days.

Homes sold really close to the list price during 2008.  Average list to average sale ratio for these 794 homes was 97.77% while the Median list to sale ratio was 99.98%. It seems that we are pricing property correctly.  So how is that pricing compared to the year 2007?

Bremerton : During the year of 2007 there were 1003 homes sold in Bremerton with an Average Sales Price of $260,465.  The Median Sales Price was $242,950.  The Average Market Time was on average 74 days and the Median Market Time was 56 days.  Let’s look at the 2007 list to sale ratio.  the Average list to average sale ratio for the 1003 homes was 98.95% while the Median list to sale ration was 99.16%.

There were 209 more homes sold in 2007 than in 2008. The Average List Price for 2008 was $14,174 lower than for the year 2007.  The Median List Price for 2008 was $15,000 lower than for the year 2007.  So what was the actual sale price differences?  The Average Sales Price for 2008 was $16,958 lower than for the year 2007.  The Median Sales Price for 2008 was $13,000 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
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008

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

Why do builders settle for less?

First a brief look at my background in new construction.

In 1995 I met a real estate agent named Don Richards at the Windermere office I had just moved my license to. Don was a project manager for another real estate agent in the area that represented several smaller spec type home builders. When Don approached me and asked if I would like to help out “sitting” a site in Sumner, WA being built by Hultquist Homes, I jumped at the chance! This is when my passion of selling new construction began. New construction became my niche market.

I learned all of my new construction knowledge from several individuals that had been selling new construction exclusively for several years. I decided that my background as a sales rep for a lumber yard back in the 1980’s was a huge bonus when it came to knowing the ins and outs of construction. My previous experience as a contractor sales rep had really given me the right tools to be knowledgeable in a profession I had just entered.

I learned from the bottom up. I first was asked to make sure the model home was furnished with marketing materials. A few weeks later I was asked to oversee the site open house schedule. With these tasks came more responsibility and a greater understanding of the new construction home selling process.

As the months and years went by I progressed from Assistant Project Manager under my partner Don Richards to Project Manager when he left the area to build his dream job in Alaska. After being the “bridesmaid” for the listing agent for several builders and projects I finally won my own project at Lakeland Hills in Auburn WA for the builder Abney/Revard out of OR. I was given the final phase of 22 homes after I submitted a very aggressive marketing plan. One so aggressive that I guaranteed I would personally “sit” the model home 7 days per week until all homes sold. I had a blast!

During my years as a Project Manager I was in charge of every aspect that marketing a new construction plat entailed. The list of duties is huge for an individual agent but I excelled at it.

The following is just a sample of the elements of new home construction sales I involved myself in.

• Designed, ordered and installed all marketing materials.
• Hired, trained, scheduled and supervised all site agents.
• Planned all “Grand Opening” and “Broker’s Open” house events.
• Developed a “New Construction Selling Guide” to assist agents.
• Attended weekly builder/escrow/lender production meetings.
• Arranged and scheduled final walk-thrus.
• Responsible for all NWMLS reporting.
• Responsible for all market research.
• Researched and developed bank proposal for a new plat in Renton, WA.
• Implemented several “Builder Addenda” to facilitate the option and upgrade process.

I do have to admit that during the years between 1995 and 2001 there wasn’t much emphasis put on personal web sites and blogging in my market area. Sure I had a web site, sure I utilized the NWMLS site and of course the Windermere web site for all of the projects, but I never once made an individual blog or web site for each project.

So back to my question, “Why do builders settle for less?”

After returning to the area in 2006 I reactivated my real estate license in 2007 and thought I would work in the resale arena to start my come back because I had moved to a different market area, most of my connections were out of the business and the market was slipping.

I now know that I need to get back to my “niche” – new construction, but with the rules on solicitation of another member’s listing I am really struggling with how to approach local builders. I am not going after the Quadrant, Chaffey, Norris type accounts. I am looking for that builder who is putting up 10 – 30 homes a year, maybe more. I am looking at finding a builder who is tired of not being treated like the big guys when it comes to marketing or representation.

I have visited several plats in the area that just don’t have any market plan, let alone an agent on site at a model home or trailer (yes I have sold many homes from a trailer or the trunk of my car). Where are the individual web sites for a small Kitsap County new home plat? Where are the marketing materials on site, like site maps, floor plans, brochures? Where are the site agents?

I really wonder how some builders sell homes if there is no marketing, let alone limited information usually with no photos, floor plans or much information on the Northwest Multiple web site. I wonder what kinds of promises were made. What types of commissions were negotiated? What if anything is the builder getting for the cost of a commission.

Like I said I can not ask the builder due to a violation of my multiple rules. I can some say ask to have the opportunity to make a proposal on their next project. Ok, “really” do you think I wouldn’t get my hand slapped for that one? I have never been given a true answer by the association or a Broker.

If you are a builder in Kitsap County reading this article and you would like more information YOU CAN CONTACT ME. If you make the first contact I am “off the hook” when it comes to solicitation. Of course I can not counsel you on how to fire your agent; you will need to read your listing contract for that information.

Welcome to Kitsap County

Kitsap County is a county located in the U.S. state of Washington, named after Chief Kitsap of the Suquamish tribe. As of 2000, its population is 231,969. Its county seat is at Port Orchard, and its largest city is Bremerton.

Kitsap County was formed out of King County, Washington and Jefferson County, Washington on January 16, 1857. Originally named Slaughter County, it was soon renamed.

The United States Navy is of great importance to the county because it is the largest employer in the county, with installations at Puget Sound Naval Shipyard, Naval Undersea Warfare Center Keyport, and Naval Base Kitsap (which comprises former NSB Bangor, and NS Bremerton).

Kitsap County is connected to the eastern shore of Puget Sound by Washington State Ferries runs from Bremerton to Downtown Seattle , Southworth to West Seattle via Vashon Island, Bainbridge Island to Downtown Seattle, and from Kingston to Edmonds.

In addition to occupying most of the Kitsap Peninsula, Kitsap County includes both Bainbridge Island and Blake Island. According to the U.S. Census Bureau, the county has a total area of 566 square miles (1,466 km²), of which, 396 square miles (1,026 km²) of it is land and 170 square miles (440 km²) of it (30.04%) is water. According to Puget Sound Partnership, Kitsap county has over 250 miles (400 km) of saltwater shoreline.

The portion of the county north of Silverdale is often referred to as North Kitsap, and the portion south of Bremerton as South Kitsap.