Nothing quite compares to the waterfront lifestyle on Bainbridge Island during the summer months. Aquatic adventures abound with long days spent at the water’s edge. In the spirit of the waterfront season, Realogics Sotheby’s International Realty recently released RSIRWaterfront.com, which takes a close look at sales trends in 14 counties around Western Washington with price trends and topographic maps of 27 waterfront communities. Below we have compiled thoughtful insights for Bainbridge Island and Kitsap County.
The market slowdown that began in the fourth quarter of 2018 continued into the first quarter of 2019, with the median sales price of single-family homes on Bainbridge Island settling at $843,000, a 6.33% retracement from the first quarter of 2018 (when homes sold for $900,000). In the first quarter of 2018, we reported a sharp decline in inventory, however as was the case in many markets, inventory rose on Bainbridge Island in Q1-2019, pushing into a neutral market, with 3.2 months of inventory.
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.
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.
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.
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.
There is no doubt that Bainbridge Island is a fantastic place to live all year round, but summer is one of our favorite times because it gives us the weather and daylight to enjoy the Island’s 27 parks and 36 miles of trails! In celebration of the warmer season, we outlined a few of our favorite destinations below.
According to a Niche survey of the top Washington state school districts of 2018, Bainbridge Island School District ranks fifth among the 236 districts within the state. With a total of 10 schools and nearly 4,000 students, the Island earned especially high marks within the categories of Academics, Teachers, Clubs & Activities, and College Prep.
Market data from the fourth quarter of 2017 indicates that Bainbridge Island continues to attract buyers, as the number of homes sold was up slightly from Q4-2016 despite a sharp 32.9% inventory decrease. Fierce competition paired with a lack of inventory is driving up prices, as the median sales price rose 14.8% to $972,000.