Below are some market statistics for the Port Orchard / Manchester area for the month of July 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 (August 24th) there are 406 homes available for sale in the Port Orchard / Manchester area of Kitsap County. During the month of July 116 new listings became active in the NWMLS data base, which is an increase over last year but a drop of 19 properties. New homes coming on the market has declined every month since April’s high of 157. There were 99 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. This is a huge 20 property increase over June and up 71% over 2012! During July 90 homes that had been listed as pending closed and the change of ownership was recorded at the Kitsap County Courthouse. This is a 53% increase from 2012 and a drop of 8 closings from June of 2013.
Let’s look at those 90 Port Orchard homes
Total number of Homes Sold
|Median List Price||$217,500|
|Median Selling Price||$211,500|
|DOM=Days on Market Median:||46|
|Average List Price||$241,720|
|Average Selling Price||$236,588|
|DOM=Days on Market Average:||75|
How many months of inventory is this? If you take the total number of active listings and divide by the number of homes that have gone pending over the last 60 days there would be just about 4 months for the Port Orchard/Manchester area. That would indicate a seller’s market. Lack of new homes coming on the market has set Port Orchard back to a Seller’s market when last month it was headed to a normal market.
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.”