The Residential and Condo Markets are Picking Up!

The Fall 2009 uptick in sales that we saw in both the condo and residential markets is definitely sustaining itself, but barely; with 5 sales over the same period for last year in the residential market.  The "over a million" range has picked up dramatically and the inventory in the $400,000 to $500,000 range has dropped off, with  a large number of buyers competing for very little product. Georg and I just put two of our listings in the $500,000 range under contract, giving us four properties in the $400,000 to $500,00 range currently in escrow.  If you are shopping in this range, get pre- approved (e mail me for lender recommendations) and set yourself up with our high tech, Coldwell Banker Personal Retriever system that will allow you to see all new inventory as it hits the market. This will give you a tremendous advantage over other buyers waiting for a phone or e mail from their realtor.

Inventory should start to pick up in the coming weeks.

Updates on Current Market Conditions, Bainbridge Island


as of March 7th, 2010
RESIDENTIAL

There are currently 181 residential units on the market up from 154 on January 23rd. There were 215 on November 19th and 232 on October 14th. As of August 9th, 2009, there were 264 residential units on the market. This is the optimal time to sell your home given the lack of substantial inventory to compete with.

SOLD HOMES (Closed Sales):

2010 to date: 31 sold Sold for Same Period 2009: 26 There are 41 pending home sales

2009 212 sold giving us an 8.7% increase in residenital sales over 2008.

2008: 186 sold

2007: 331 sold

2006: 350 sold

2005: 442 sold

2004: 467 sold

2003: 453 sold



Closed Sales Since January 7th, 2009

100K to 249K 2

250K to 400K: 2

401K to 500K: 4

501K to 600K: 6

601K to 700K: 2

701K to 800K: 2

801K to 900K: 4

901K to 1 Mil: 0

1.0 to 1.5 Mil: 6

1.5 and Above: 2



CONDOMINIUMS

55 sold in 2009; an extremely difficult year, with 44 sold for the same period in 2008: 133 sales in 2007 and 155 sales in 2006. We have 69 condos on the market (with 7 sales to date this year), which is down from the peak of 114 in 2009.