Number of Closed Sales Jumps 9%, Year-To-Date Over 2008

We have seen continued residential sales through the fall, rather than a traditional drop-off for this time of year, giving us a nice jump in sales-to-date of about 9% over last year.  We have even seen a small increase in condo sales over last year.  The number of pending sales is also very encouraging, as price points and interest rates continue to become more and more competitive.

Updates on Current Market Conditions, Bainbridge Island


as of December 13th, 2009



RESIDENTIAL

There are currently 188 residential units on the market, down from 215 on November 19th and 232 on October 14th. As of August 9th, 2009, there were 264 residential units on the market.



SOLD HOMES (Closed Sales):

2009 to date: 197 sold Sold for Same Period 2008: 178 There are 38 pending home sales

2008: 186 sold

2007: 331 sold

2006: 350 sold

2005: 442 sold

2004: 467 sold

2003: 453 sold



The current trend indicates an increase in sales for 2009, over 2008 of about 9%, while the median price has dropped about 12%.



CONDOMINIUMS

Year to Date, we have seen 49 condos sell with 44 sold for the same period in 2008. We had 44 sales in all of 2008, off from 133 sales in 2007 and 155 sales in 2006. We have 98 condos on the market, which is down from the 114 year round.



There are currently 6 condos pending sale.



Home Sales Per Price Range from October 1, 2009:

Pending:

250K to 400K: 6

401K to 500K: 5

501K to 600K: 5

601K to 700K: 3

701K to 800K: 5

801K to 1 Mil: 4

1.0 to 1.5 Mil: 8

1.5 and Above: 2 (Georg Syvertsen's Country Club Listing Priced at 2.2 million and our sale of Winslow Way listed at 1.8 million)



Closed Sales Since October 15th

250K to 400K: 0

401K to 500K: 11

501K to 600K: 8

601K to 700K: 2

701K to 800K: 3

801K to 1 Mil: 2

1.0 to 1.5 Mil: 4

1.5 and Above: 0

(On average, we are seeing homes close at about 8% less than their last list price. This does not take into account the original list price.)