Kitsap County [Excluding Bainbridge Island] Real Estate Trends 1st Quarter—2015

 

Kitsap County [Excluding Bainbridge Island] Real Estate Trends
1st Quarter—2015

We track several key indicators to determine the current state of the market and anticipate future trends. If you would like to know what's happening in your neighborhood, give us a call. We've got the data and expertise to help you make an informed decision. 

 

 CURRENT PRICE TRENDS: PRICES WILL RISE!
 

2015 is off with a bang. 22% higher dollar volume sales than 2014 and 2014 was already 17% better than 2013. The recovery is in full swing! The median price has seen a steady progression as well 2013 = $210,466, 2014 = $213,633 and now 2015 is showing $221,800— a 4% gain over last years same period. Low inventory is still a problem which is keeping upward price pressure on our existing market. Interest  rates  are  holding  steady  and Windermere continues to be the market leader in the county for  2014  with  a 30% market share of the dollar volume sold.  Our Windermere economist predicts prices will continue to rise in 2015 by 2% to 3% and interest rates  should  continue  to  be exceptional!

  

 MARKET ACTIVITY: INCREASED!  
 

First quarter sales are up 14% from 207 homes in 2014 to 235 for the same time period this year. Inventory is down 30% this year and is remaining very low with only 780 homes available in March of this year vs 1,103 in 2014. We anticipate seeing another large increase in  inventory  coming  on  the  market  by   May so if you are thinking of selling, now is the time while inventory is low. Prices Sellers who  price  at  market  value are often seeing multiple offers. Absorption  of  inventory varies between area and price range. To know what’s happening in your segment of the market, call me today for your specific neighborhood update.

 

FINANCIAL MARKET TRENDS: GREAT TERMS! 
 

Interest rates fluctuate regularly, particularly in today’s market.  A 30 year fixed rate mortgage today will cost approximately 3.75 – 4%.  15 year mortgages are available in the low 3’s. Don’t wait for better terms!

 Remember, every 1% increase in interest rates reduces your purchasing power by approximately 10%. Don’t miss this extraordinary opportunity to purchase a home near the bottom of the market, with fantastic interest rates!

 

WHY DOES WINDERMERE OUTSELL ALL OTHER AGENCIES IN 

KITSAP COUNTY?
 

Because we invest the time to learn to, understand the market, price accurately, and give excellent advice.  We are full time agents who are experienced, knowledgeable and hard working. When you are making one of the largest financial decisions of your life wouldn't you prefer the best people working on your side? 

 Give us a call Today: for an accurate, up to the minute, analysis of your home. 
            

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Posted on April 29, 2015 at 10:27 pm
Irene Wurden | Category: Uncategorized

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