North Kitsap Market Update

One of the questions Real Estate Brokers hear, and hear most often, is “How is the market?” This is a great time to ask and answer that question!

Right now we are experiencing a seller’s market in North Kitsap. What does that mean? That means we have an unusually low inventory of homes for sale. In fact, Brokers in our office who have been in the business 20 years or more are remarking on the fact that they have not seen so few homes for sale in our area in all their years of experience. How does this affect you?

Well, if you are a buyer, things can be tough. There aren’t as many homes from which to choose, and homes in desirable neighborhoods or homes that are priced particularly well are selling quickly. Sellers are receiving multiple offers, and they are able to be more selective about the offers they accept. Financing (cash remains king!), closing dates, inspections, and other contingencies can and do affect how a seller views the offers on their home. Buyers need to be ready to act quickly if they find a home in which they are interested. In all cases you should be working with a great Realtor® – that goes without saying! It also means you should be working with a great lender and have your budget determined and your pre-approval in place. Those are important pieces when planning for a successful real estate buying experience.

And if you’re a seller, our current market provides good news for you! This is a great time to sell. Low inventory means there is a pool of buyers waiting for new homes to come on the market, and they are eager to see what you have to offer. Brokers are continually reviewing new listings, ready to gain access to and show your home. It also means you want and need to put your best foot forward with a home that will excite buyers by being properly prepared, attractively staged, professionally photographed, accurately priced, and aggressively marketed. Even though there are buyers anxious to find that perfect new home, that doesn’t mean you can afford to be lax in how you present your property. Again, you should be working with a professional Realtor® who can guide you through the process and help you achieve success. Real estate transactions are complex, and many things can and do go wrong between listing a property and closing a deal. Do give yourself the advantage of professional assistance to help ensure a successful closing!

Do you have questions about our market moving forward into 2015? Would you like more information about this or other parts of the County? From Bainbridge to Port Ludlow, from Hansville to Port Orchard, I would be more than happy to be of assistance. Just ask!