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Bremerton WA Real Estate Market Report Recap | July 2008

Bremerton WA Real Estate

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.

Bremerton Market Recap

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.

Bremerton WA Real Estate

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

Posted by Jo Soss | Bremerton WA Real Estate on 08/27/2008 02:45 PM

Comments (2)

Market Activity in the Home Buying Channel

This post has been included in Washington Information Kitsap County, WA Information Bremerton, WA Information
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2 Comments on Bremerton WA Real Estate Market Report Recap | July 2008

As usual Jo another terrific recap of the Real Estate market in Bremerton Washington.

08/27/2008 10:29 PM

by Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty)

Bill, thank you so much! Coming from you that does mean a lot! You have such impressive reports. This one was a little late, with business and vacation I am running a couple weeks behind! It is almost time to wrap up August! Can you believe that!

08/27/2008 10:41 PM

by Jo Soss | Bremerton WA Real Estate (Skyline Properties, Inc.)

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