Kitsap ends year with strong home sales, weak inventory

Tad Sooter, Minding Your Business Blog, Kitsap Peninsula Journal of Business A year ago we wrote about surging home sales, a shortage of listings and steadily rising prices. Twelve months have passed, but the storylines remain largely the same. Kitsap’s real estate market closed 2016 with strong sales, a depleted inventory and a higher median home price, according to numbers released by Northwest Multiple Listing Service. Pending […] Read more »

Average apartment rent now $1,134 in Kitsap

Tad Sooter, Minding Your Business Blog, Puget Sound Blogs Average rent for an apartment in Kitsap County climbed to $1,134 in the second quarter of 2016, while vacancies dropped below 4 percent. Average rent per unit was up $57 from the first quarter of the year, marking the largest quarterly increase in the past two years. Rental statistics were provided by Tom Cain of Apartment Insights Washington, who surveys apartment complexes with 50 or […] Read more »

Another big apartment sale in Silverdale

Tad Sooter, Minding Your Business Blog, Puget Sound Blogs A run on apartment complexes has been one sign of Kitsap’s resurgent rental market. In Silverdale, two Los Angeles-based firms have spent a combined $167 million buying up large apartment complexes in the past year, according to assessor’s records. Most recently, an LLC affiliated with Benedict Canyon Equities bought the Silverdale Ridge Apartments for $20.05 million. Benedict Canyon’s portfolio now includes three complexes in the Ridgetop area. […] Read more »

Kitsap’s median home price hits $285,000

Tad Sooter, Minding Your Business, Puget Sound Blogs The median price for homes sold in Kitsap County reached $285,000 last month, as sales activity ramped up and inventory remained low. The median price for May was 7.6 percent higher than in May of 2015, according to report from Northwest Multiple Listing Service.  The year-to-date (January-May) median home price for the county was $266,914, up about 11.5 percent from […] Read more »

Seattle home prices are driving some buyers farther afield

Blanca Torres,  Seattle Times With prices rapidly escalating in Seattle and the Eastside, some would-be homeowners are finding new answers, and extending the definition of what qualifies as a Seattle suburb. The list of cities some might call suburbs of Seattle now stretches to places like North Bend, Poulsbo and Cle Elum. More homebuyers are willing to trade longer commutes to buy a they can afford […] Read more »

Kitsap real estate market keeps getting tighter

Tad Sooter – Minding our Business – Puget Sound Blogs – KPBJ Kitsap’s already-strained housing marketsomehow squeezed tighter in March. There were nearly as many home sales pending in the county last month (559) as there were homes available for sale (566), according to Northwest Multiple Listing Service. Active listings were down nearly 33 percent in March from the same period of 2015. Low inventory dampened sales activity […] Read more »

Real estate update: Low inventory, high demand still define market

Tad Sooter – Minding our Business – Puget Sound Blogs – KPBJ Kitsap homebuyers were still picking through a thin selection of houses February, but the lack of inventory didn’t dampen sales. About 600 homes were listed for sale in the county last month, 28 percent fewer than in February 2015, according to Northwest Multiple Listing Service. (You can see where inventory declined the most using the interactive […] Read more »

Lack of inventory “a game changer” for home buyers

New Release, Northwest Multiple Listing Service KIRKLAND, Washington (February 4, 2016) – Depleted inventory is contributing to “overwhelming” traffic at open houses, shifts in strategies for both buyers and sellers, and escalating prices, according to officials with the Northwest Multiple Listing Service. Dick Beeson, a former chairman of the MLS board, said the lack of inventory in almost every county is, “without question, a 2016 […] Read more »

Real estate update: Kitsap home prices up to end year

Tad Sooter – Minding Your Business – Puget Sound Blogs The Kitsap real estate market ended 2015 on a high note. At least for sellers. The median price for houses and condominiums in the county was $266,500 in December, a 13.4 percent increase from December 2014, according to numbers released this week by Northwest Multiple Listing Service. Kitsap’s overall median home price for 2015 was $258,500, […] Read more »

Be Your Own Landlord

Liberty Bay Bank Discovery Workshops presents: Be Your Own Landlord – Understanding The Difference Between Leasing and Buying Febuary 11th – 12:00 – 1:30pm – lunch is provided Liberty Bay Bank, Poulsbo Are you a business owner at a crossroads?  With historically low rents and historically low prices and interest rates for commercial real estate, which option is best? It’s a common question, and the answer is rarely […] Read more »