Grateful to have worked with such amazing people in 2019 and wrap up the year with 31 total sales. Looking forward to a fun and fast-paced 2020!

Jen Pells' 2019 Sales collage for Bainbridge Island

On January 14, 2020, in Uncategorized, by

It is an honor to wrap up my 2019 listing season with one of my very favorite homes on the island.  I sold this home to my clients back in 2013 and it made my top 10 list that year.  This home was already special and charming before my clients bought it and sprinkled their style and talent for design all over it.  It did not take my clients long to find the best of the best contractors (Tom Whealdon Construction, Salisbury Woodworking, Chameleon Fine Home Painting, Seri Yekel Design) on the island and they did some amazing remodeling and renovations on this home over the past seven years and today it is truly EXCEPTIONAL!

It is certianly one to see in person.  Open Sunday, December 8th from 1-4pm or reach out for a private showing. 

Find out much more about this fine home at bainbridgeviewhome.com or at the Windermere site.

Offered at $1,448,000

10578 Sunrise Drive NE  on Bainbridge Island.

10578 Sunrise Dr NE on Bainbridge Island.

The fabulously remodeled kitchen.

Living room with vaulted ceilings and centerpiece river rock fireplace.

The cozy family room.

Charming main floor hallway.

The master suite retreat.

The spa-like master bathroom.

View from the master bedroom.

The guest apartment over the garage.

The sandy beach – deeded beach access is via a private trail.

Front of the home.

Aerial view of the property.

Details about the home:

Enjoy views of the Sound and deeded beach access from this charming, jewel-box home tucked behind mature, professionally-designed landscaping. Reimagined and masterfully crafted by fine local builder Tom Whealdon, this home is a beautiful marriage of high-end finishes and thoughtful details. Divine chef’s kitchen with French range and Sub-Zero fridge, spa-like master suite retreat, and wide plank quarter sawn oak flooring. The 650 sq ft guest apartment shares the same refinement. A rare find.

  • three bedrooms – 3,241 sq ft in main home
  • guest apartment over garage – 650 sq ft
  • Sound and Cascade Mountain views
  • .59 acres – flat lot
  • deeded beach access
  • remodeled by Tom Whealdon; originally built in 1961
  • chef’s kitchen, spa-like master bathroom, quarter sawn oak floors, wool carpeting
  • fine finishes and  updated fixtures throughout the home
  • two main floor bedrooms; master bedroom on second level
  • heated 2-car garage

Please reach out for a private showing.

Again, much more info on the home can be found here.

 

 

 

 

 

 

 

On December 6, 2019, in Homes, Listing, Open Houses, Top 10 Homes, by

Summer is over, over.  It is raining.  The holidays are coming.  We are very seasonal here on Bainbridge Island with our real estate market and our busy listing season is April – August.  When I sold real estate back in California the listing season was less dramatic, sales happened pretty consistently year round. Here, in Washington, we are more affected by the weather. We are heading into that slower listing season right about now. Our busy season bled into fall this year more than it ever has in my 12 years in the business here.  Right now we have about 80 homes on the market.  In January, that number may get down to around 50. I have seen it in the 30’s before.  In our small niche market, a handful of good listing makes a big difference.  Which is why listing in the winter can be very good for sellers.  Some of my favorite homes on the island have come on the market in fall and winter. They are always such a fun surprise.

In the fall I get a bit of time to reflect on the past busy season.  What worked?  What could be improved?  How do I want my business to continue to evolve?  I look at where my clients are coming from and where they are going.  Below is a grid of my 2019 summer sales, back when the sky was indeed blue.

Homes sold by Jen Pells real Estate Summer 2019

Fun facts about my summer sales:

Total number of sales from Memorial Day through Labor Day – 18

Highest priced sale – $3.6M for a 5,000 square foot waterfront home on South Beach

Most affordable sale – $435,000 for a one bedroom condo at Harbor Square

Number of repeat clients – 8

Number of related clients in the grid above – 4

Number of sellers represented – 12

Number of buyers represented  – 6

Number of clients who moved from one house to another house on Island – 7

Number of sales that represented Newcomers to the island – 5

Number of sales that were multiple offers – 7

Shortest days on market for sales above  – 2!

Longest days on market for sales above  – 23

Things move quickly in the prime selling season and I worked some long days in the summer making sure my clients were where they needed to be before their next chapter started. Good thing it stays light until 10pm here in the summer.

The market is still moving at a nice pace, but I am grateful for pace that is a touch slower so I have a little more time to breath and recharge and give a little extra time and attention to my active fall and winter clients.

If you’d like to talk more about the market, give me a call.

To see my complete sales portfolio, click here.

Things, they are shifting . . . a bit.  We are still in a seller’s market and sales are brisk and sellers are happy and buyers are a bit more happy because they are not ALWAYS in multiple offer situations.  Take a closer look at the KITSAP numbers in the GARDNER REPORT below.  Click on each page to see a blown up version. 

Daily, at the gym and the grocery store, people want to know about the market.  We are a small, niche market and even those not in it daily can feel the slight change happening.

The largest shift I am feeling right now is that many, many, empty-nesters in the larger homes on an acre-plus have listed their homes this year. I thought we would see more of that last year but this year those homes really arrived on the market and the $1.1-$1.3M range of the market is feeling the “flood” of listings.

As of today we have 116 homes on the BAINBRIDGE ISLAND market

21 are between $1.1-$1.3M

76 are above $1M

Only 26 are below $800K and several of those are what many of us consider townhomes

Buyers have options in all price ranges and when they do, they are choosy and specific. That is a refreshing shift. When I have my buyer’s agent hat on it is a fun day. I love that buyers have 5-8 great options to consider and can make an under-asking offer.  When I have my seller’s agent hat on I say, prepare, prepare, prepare and get ahead of the pack.

All in all, it is about strategy and timing. We are a very-seasonal market here and our end-of-summer slow down is beginning too. How can that work for you as a buyer or seller?  We all have our own specific ways of getting our clients to closing day.  I am having a fun, busy summer, with buyers and sellers.  If you are curious about how this current market can work for you, let’s chat.

Jen Pells Real Estate Bainbridge Island

Jen Pells Real Estate Bainbridge Island

Jen Pells Real Estate Bainbridge Island

Jen Pells Real Estate Bainbridge Island

 

Waving Hello to Q2

The recent shift to Q2 delivered the Bainbridge Island real estate market out of a sluggish first quarter. This slow start to the year was due largely to traditional seasonal market conditions but was exacerbated by the unprecedented snowstorm in February, which pushed real estate concerns down people’s priority lists as we all worked to dig ourselves out.

However, March brought higher temperatures and some heat in the market. The number of under contract listings more than doubled (215.4%) from February to March. Compared to last year, this March showed an increase of 20.6% of under contract listings. Perhaps the theme for 2019 should be less “April showers bring May flowers” and more “Q1 gales bring Q2 sales!” Musings aside, it seems that April has ushered in a swing from a sellers’ market to more of a balanced market. But, my advice to buyers and sellers is to get ready for a busy phase.

A Summer-Ready Stockpile

Relative to last year, available properties on Bainbridge are on the rise although still well below what we’ve seen in years past. By the end of March, there were 44.7% more properties available than at the same time last year, with a February-to-March increase of 7.8%. Contrast this with fewer property sales in March 2019 compared with the previous year as well as the previous month, and we’re looking at an accumulation of inventory that’s ready to fly. Those buyers with a sense of urgency now have more options. A word of caution, though: don’t assume that more inventory means it’s a less competitive playing field. The world of multiple offers is still very much in play.

Seasonality and Absorption

While inventory is higher than last year, it is still below the levels we usually see this time of year. Fewer people are putting their homes up for sale and well-priced homes do sell once they hit the market. We see this in the absorption rate, which measures the rate at which available homes are sold during a given month. We saw a fairly substantial drop in absorption rate in August of last year. This led to a sustained period of 30-40% of active listings being sold on a monthly basis. However, that figure made a dramatic leap at the end of the quarter, nearly tripling from February (25.5%) to March (74.5%). This kept our inventory levels down while possibly signaling the start of a robust spring market.

Bainbridge Island Real Estate Jen Pells

Dollars and Sense

News reporters who sensationalize the “slowing housing market” aren’t actually telling the whole story. If they did, they would also share the fact that homes continue to appreciate — just at a slightly less aggressive pace than they have in the past. Broadly speaking, we’re told by economists that we have little-to-no risk of recession in the short term. Many said economists, including Windermere’s own Matthew Gardner, expect some degree of economic slowdown in 2020 but the effects should be minimal in Western Washington.

In this market, working with a full-time agent, attuned to the realities and unique dynamics of this market is key. Look to the expert, not the 24-hour news channels, for a read on the market to ensure you get an accurate picture that can inform your buying or selling decisions. Here’s to the start of another busy summer! I look forward to spending it with you.

 

 

 
On May 1, 2019, in Uncategorized, by

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