Buckley & Buckley Real Estate
Buckley & Buckley Real Estate
Early November Bainbridge Island Market Update
Posted on November 4, 2009
It seems that everyone I talk to asks how our Bainbridge real estate market is doing. Home sales have remained steady through September and October. Inventory fluctuated in the 250 active
listings range with around 30 to 40 under contract for an average absorption rate of 16%. Not exactly the 28% rate of early 2007 but much better then the 8% to 10% rate of late 2007 and 2008. Is it still a buyer's market? Yes, but some price ranges have seen multiple offers again, especially homes in the $600,000 price range. Meanwhile, non waterfront homes over $800,000 have continued to languish on the market. There are some excellent values seen here with properties offered at less than replacement costs. With jumbo loans available at 5% or less we hope to see more of these homes going under contract this winter. Edward
listings range with around 30 to 40 under contract for an average absorption rate of 16%. Not exactly the 28% rate of early 2007 but much better then the 8% to 10% rate of late 2007 and 2008. Is it still a buyer's market? Yes, but some price ranges have seen multiple offers again, especially homes in the $600,000 price range. Meanwhile, non waterfront homes over $800,000 have continued to languish on the market. There are some excellent values seen here with properties offered at less than replacement costs. With jumbo loans available at 5% or less we hope to see more of these homes going under contract this winter. Edward
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