Below are some market statistics for the Port Orchard / Manchester area for the month of January 2013. These homes are located in the 98366 and 98367 zip code areas and have a listed city of either Port Orchard or Manchester for their physical address. Currently there are 293 homes available for sale in the Port Orchard / Manchester area of Kitsap County. During the month of January 77 new listings became active in the NWMLS data base. There were 67 homes that received offers and the seller and buyer came to terms and those homes are now pending inspection pending back up, pending short sale or PENDING and headed to closing. During January 34 homes that had been listed as pending closed and the change of ownership was recorded at the Kitsap County Courthouse.
Let’s look at those 34 Port Orchard homes
|Total number of Homes Sold||34|
|Median List Price||$232,500|
|Median Selling Price||$227,500|
|DOM=Days on Market Median:||60|
|Average List Price||$229,707|
|Average Selling Price||$22,545|
|DOM=Days on Market Average:||84|
|Homes Sold 2012 – 38||difference of 4 or 10.526% decrease in homes sold|
|Median Sold Price 2012 – $147,500||difference of $80,000. or a 54.237 % increase|
How many months of inventory is this? If you take the total number of active listings (I am not using pending listings) and divide by the number of homes sold as an average over the past 12 months there would be just under 4.5 months for the Port Orchard/Manchester area. That would indicate a seller’s market due to lack of inventory.
What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.
If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.
If you would like to purchase a home in the Port Orchard / Manchester area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.
“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed.”