Many homeowners and savvy investors are turning to rental vacation properties as a means of generating extra income. For someone that hasn’t yet broken into the rental market, the idea of investing can feel daunting: What area should I buy in? What if I don’t make the right purchase? How do I even begin? A recent Forbes article answered one of those questions, in a recent outline of the top five places to own a vacation rental property in 2019.
The data for 2018 is in and Realogics Sotheby’s International Realty has put together a comprehensive market report that covers eight key counties and 31 regional markets around the Puget Sound. Below, I’ve outlined trends from Kitsap County, Bainbridge Island and Poulsbo for you to consider as we move into the busiest sales season of the year in our real estate market.
Spring is nearly upon us, and as we prepare for longer days, birds chirping and—fingers crossed—sunnier weather, we thought it’d be a great time to highlight some of the fabulous things there are to do on Bainbridge Island. From night hikes and nature walks to entertainment and a Mother’s Day treat, welcome the season of change with some stellar, not-to-be-missed events.
As we closed 2018, the real estate market on Bainbridge Island underwent its typical seasonal slowdown. Many buyers elected to take a break from their home searches and some sellers also paused, as inventory fell to a low of 1.6 months. Though there were fewer sales, home values did not depreciate, as the median sales price reached $1,035,000, the highest figure reported on a quarterly basis in all of 2018.
Winter is right around the corner, and with the chill in the air and the joy of the holiday season, there are so many stellar things to do on Bainbridge Island. From music and art to fun family-friendly performances and other community events, celebrate the coldest season of the year with some fun, not-to-miss functions.
While it’s common for some homeowners to put the brakes on a home sale in the winter season, the final quarter of the year can actually make for an excellent time for sellers to enter the real estate market. Lower inventory on a historic basis during this time of year paired with a pool of buyers that are serious about their home search can prove quite favorable. If you’re thinking about listing your home for sale during the chilly season, it’s key to consider the following 6 items outlined in a recent Upnest article.
Though Seattle and the Eastside both reported slight decreases in the average median sales price from the second to third quarter of 2018, home prices on Bainbridge Island increased on a quarterly basis, from $865,000 in the second quarter of 2018 to $912,000 in the third quarter. This 5.4% quarter-by-quarter increase is larger than the 2.3% year-over-year gain, and may be attributed to a shortage of supply.
With the arrival of autumn, Bainbridge Island will soon be dripping in beautiful red and golden hues as the leaves change color and the air becomes crisper. This is one of our favorite times of year to spend a weekend wine tasting at the Island’s seven stellar wineries and tasting rooms. Below we’ve outlined our favorite destinations and what makes them special.
We are just days away from the start of the autumn season, which means we are in an excellent time of year to take care of home maintenance items that will prepare us as we shift into the chillier months of the year. Houzz put together a list of their top tips to have your home ready for the rain, falling leaves, and whatever else fall brings our way this year.
While many areas around the Puget Sound have experienced inventory increases over the past few months, the number of homes for sale on Bainbridge Island remains tight as there were just 1.8 months of inventory as of Q2-2018. With a lack of options and many buyers searching for Island homes, the process can feel daunting—here are seven tips that will help you navigate your home search.
The next stop in our Extraordinary Getaways series is all about the summer! From the deserts of Santa Fe and the shores of New England to various Hawaiian destinations, browse a collection of amazing homes located within the most popular summer travel destinations for 2018.
Though other areas around Puget Sound experienced increased inventory in Q2-2018, Bainbridge Island saw a decrease in homes for sale with just 1.8 months of inventory. The number of homes sold likewise decreased, while the average sales price remained relatively steady between Q2-2017 and Q2-2018 at $965,000 and $972,000, respectively.
Summer is now in full swing, and with the warm weather and kids out of school, there are tons of fabulous things to do on Bainbridge Island. From music and art to fun family-friendly performances and other community events, celebrate the warmest season of the year with some fun, not-to-miss functions.
Offering an abundance of saltwater frontage and stellar city and mountain views, it’s no surprise that Bainbridge Island stands as a prime commuter market and destination for those that want to live an idyllic lifestyle with easy access to the Pacific Northwest’s fabulous recreation and the hustle and bustle of the city. Realogics Sotheby’s International Realty recently released waterfront stats from around the Sound, revealing what’s been happening on the Island since the start of 2018.