Bainbridge Market Update Feb 4th 09

My office is humming along at high speeds with 11 transactions signed around last month and 6 already this month! It seems like there is always a meeting going on in one of the conference rooms and a new transaction being added to our sales board!

Here are the current stats:

There are 193 residential and 81 condo listings on the market. We have seen fourteen closed sales for residential and only one for condos.

Here's some sales history for residential units sold:

2008: 186 sold

2007: 331 sold

2006: 350 sold

2005: 442 sold

2004: 467 sold

2003: 453 sold

The condo market is taking the biggest hit do to the loss of the downsizing market, though we are seeing a lot more traffic at our condo open houses, particularly at Madrone Village.

Some Observations: The agents at my office are diligent about keeping up with the new inventory and revisiting inventory that has been on the market for a while. The Brokers Open - when all the area agents visit preview inventory - is held every Thursday. I've noticed a lot less traffic from our competitors. Many island agents have quit the business, but quite a few who are still active are not showing up for the Broker's Open. I'm a little judgemental about that! It's one thing to miss an occasional open, but to stop previewing entirely? How can the agent serve the buyer or seller without knowing the inventory first hand? Makes me crazy!

Check out the new website for my 23 acre, resort zoned property south of the Kalaloch Lodge at

http://www.seacrestatkalaloch.com/ We are now in the application process for 60,000 commercial square feet! Also, there is a wonderful, brand new cabin that sleeps six and has every important amenity!