Bainbridge Real Estate Market Report

Bainbridge Island Real Estate Market Trends

Bainbridge Island residential properties were selling for a January median price of $553,500, about 10% higher than in December. The more stable three month moving average of closed sale price rose 4% from last month to $515,500 and is 4% higher than it was a year ago. The Kitsap County 3 month moving average median price is about 2% lower than it was a year ago. The 3 month moving average for Bainbridge Island's number of closed sales is 20% higher than a year ago. The 3 month moving average number of pending sales in December rose 31% from a year ago. The 3 month moving average of closed sales is up 57% Countywide from a year ago (when sales were very weak). The number of active listings on Bainbridge (166) is down 14% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 10.3 months, slower than the 7 month turnover rate of last month. Bainbridge Island is a buyers market.

**Bainbridge Island Real Estate - January 2010**
	Median Price	3 mo Ave Price	3 mo ave Closed Sales	3 mo ave Pending Sales	Inventory Turnover (months)
Jan 2010	$553,500	$515,500	18	21	10.3
Dec 2009	$505,000	$495,000	21	25	7
Jan 2009	$549,000	$494,667	15	16	17.6

Bainbridge real estate listing inventory

Bainbridge real estate median price graph

Bainbridge Island real estate is considerably more expensive than the rest of Kitsap County, primarily because of the relatively easy commute from Bainbridge Island to downtown Seattle, which supports a wealth of higher paying jobs. Bainbridge Island is known for its high quality schools, its mixture of rural and developed properties, and its diversity of arts and culture in a relatively small community. Most Bainbridge waterfront homes now sell for more than $1 million.

Prowse and Company
Real Estate
Brenda Prowse, Broker
18887 State HWY 305 NE, Suite 600
Poulsbo, WA 98370
Office: (360) 779-2888
Toll Free: (888) 842-0117
Fax: (360) 779-6522
Email: topagent@bprowse.com

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