Bainbridge Island Seller’s Market Illustrated

In the Pink

If you pay attention to the real estate market here on the island, you should certainly have a sense that it is a seller’s market.  The low supply and high demand is doing its job to tick prices upward.  However, a glance at this map below gives you a vivid illustration of how Bainbridge, and a great deal of the Kitsap Peninsula, are now in a seller’s market. The Pink illustrates a seller’s market, the yellow a balanced market.

Follow the Wave

The second image below compares 2014 to 2015.  The Kitsap Peninsula trends to follow our market conditions, as Bainbridge follows Seattle’s market conditions.  The seller’s market has moved in a wave west and spread across the Kitsap Peninsula since last year.

And our Bainbridge market has held steady at just under two months of available inventory.  As of today 11/19/2015 there are only 66 active homes on the market.

Prepared Sellers

If you are thinking about becoming a seller, there is no better time.  Many people pull their homes off the market this time of year, but believe me, the buyers are still here, waiting for their home to come on the market.  I listed a home last week and it saw multiple offers.  Buyers came out in the wind/rain storm to shop.  They are motivated.

A well prepared and well priced home should sell fast.  In this market some sellers are pushing the price and putting their homes on the market unprepared.  Buyers are motivated, but they are smart and well educated on pricing. Buyers are pushing back and we certainly have a slice of the market that is lingering.  The home I listed last week with multiple offers was prepped for the market over a three week period.  My sellers and team of photographer/stager/handyman/inspector worked hard.  It paid off for my sellers.

Savvy Buyers

And, if you are a buyer, there are certainly ways to be successful.  You need a plan. You need to be prepared.  A smart buyer’s agent will help you be successful.  I am happy to say my buyers rarely have to bid on a house more than once.  We are typically successful on the first attempt.  My strategies are tried, true and proven.  If you are a buyer, I’d love to help you be successful in our market too.