Bainbridge Island Homes for Sale - Jen Pells Real Estate

Checking the Thermometer

No, Chicken Little, the sky is not falling. It has just shifted from clouds skittering past to a more mellow and peaceful sky. Every day, we hear news about the cooling real estate market but it’s important to consider all the factors that go into those reports. Yes, our market has chilled slightly from its previously overheated state (although we never reached the same sizzle as the Seattle market) and has settled into what might be described as a strong normal market. The business section also contains reports of ongoing job growth in the Seattle area, especially in the well-paid tech industries. Concurrently, when Seattle’s transportation woes and other urban issues are taken into consideration, the demand for Bainbridge homes, especially for families, will likely continue for the foreseeable future.

Crunching the Numbers

On the whole, most indexes show data that support a steady market in the coming months. If we isolate the third quarter and look at sales, the number of homes sold only dropped 4.4% from 2017 (137 in 2017 and 131 in 2018). In that same period of time, the median price of homes sold actually went up from $875K to $912K – a 4.2% increase. If we compare the median price of homes sold during the third quarter, they are up 8.8% from the beginning of the year. Additionally, the Cumulative Days on Market (the average time it takes to sell a home) dropped in the third quarter of this year compared to 2017 (44 in 2018 vs. 47 in 2017). The inventory and pending numbers are where elements of the cooldown show themselves. Inventory is actually down in both total inventory and active (total less pending sales), which is contrary to what people are hearing. Pending sales (homes under contract) are weaker at 40 compared to 57 at the same time last year.

Of all the numbers we examine, this 29.8% drop is the one that most directly supports the slowdown assessment. That being said, when we look at all the data at once, we can conclude that the market is pretty darn healthy and strong. Maybe not as feverish as last year, but it’s still a great time to be selling or buying on Bainbridge Island.

Bainbridge Island Homes for Sale - Jen Pells Real Estate

Condominiums and LandBainbridge Island Homes for Sale - Jen Pells Real Estate

The condominium market has softened compared to 2017, with 73 units sold compared to last year’s 89. There seem to be two parts to the condo market: the affordable (less than $500K) and the higher end, which usually includes a good view. The affordable is actually up from last year, with 64 sold versus 45 in 2017. The drop in this segment’s higher end appears attributable to a lack of supply rather than a softness in the market.

Land is also lagging a bit behind 2017. We’ve had 24 sales so far this year compared to 29 in 2017. Buying land with the intention of building is not for the faint of heart these days. Good builders are busy and in short supply and construction prices are still rising. The new zoning rules have also added an element of uncertainty.

Taking Everything into Consideration

It is true that we’re not seeing as many multiple offers as we did last year. Prices have risen but not at the frenzied pace of last year (over 18% from the beginning of 2017 to the end of the 2018 third quarter). Our rental market has also calmed down. Business in our Kitsap County neighbors, Kingston and Poulsbo, is also feeling healthy and strong and they are also benefiting from Seattle’s growth. Buyers do not seem to be particularly concerned with rising interest rates (which, after all, are still quite low), which helps boost their confidence. As we enter the fourth quarter, there are many opportunities for both buyers and sellers. Sellers benefit from the lower inventory (which means less competition) and the typically slower pace of the end-of-the-year market makes sellers view serious buyers with more attention because there simply aren’t as many buyers shopping this time of year.

Bainbridge Island Homes for Sale - Jen Pells Real EstateStaying Nimble

Whenever the market shifts, it’s wise to ensure your strategies have adapted to it. As we tilt toward normalcy, there will be more competition for buyers that sellers need to accommodate. Presentation, realistic pricing and sound advice when offers do arrive are as important as ever. Skillful real estate brokers prove their value in helping both buyers and sellers match their approaches to the existing market. We here for you, wherever you are in your real estate journey.

All in all, life and real estate are good on the island we call home. We wish you health and happiness as we head into the holiday season.

This charming custom home in the desirable Commodore Neighborhood is a rare in-town package.  Four bedrooms, a finished basement and entertaining spaces inside and out.  All within walking distance of schools, Winslow and the ferry.  Come take a tour today in person.

Open House: Sunday 1-4pm

Welcome to 1525 Arthur PL NW and the Commodore Neighborhood.

Formal living room with dramatic  floor-to-ceiling windows.

Remodeled kitchen with white wood cabinetry, black granite counters and stainless steel appliances.

Master suite with cozy fireplace and private balcony.

Spa-like master bathroom with California Closet Systems.

Custom 900 sq ft hardwood deck, with spa.

Large .37 acre, fenced lot with sport court, fire pit, shed, and garden space.

Details about the home:

Charming custom home on quiet cul-de-sac in the desirable Commodore Neighborhood. Exceptional outdoor living spaces on larger, private lot. Quality finishes and updates, including remodeled kitchen with white wood cabinetry and granite countertops. Finished basement with spaces for media room, office, and storage. Four larger bedrooms all upstairs plus formal dining and living rooms. Master Suite with private balcony and cozy fireplace. In-town convenience close to schools, ferry, and Winslow.

  • Offered at $868,000
  • Four bedrooms and 2.5 bathrooms
  • 3,500 square feet on .37 acres
  • Charming custom built home with covered front porch, cedar siding and cedar roofing
  • Formal living and dining rooms plus family room, bonus room and office
  • Light and bright remodeled kitchen with white wood cabinetry, black granite countertops, subway tile backsplash and newer stainless steel appliances
  • Hardwood floors on the main level
  • Fir windows, doors and trim throughout most of the home
  • Large master suite with a fireplace, private balcony, connected master bathroom and custom California Closet organization
  • Spa-like, updated master bathroom with double sinks, an extra-large dual-head shower and private toilet room
  • Oversized laundry room/mud room
  • Media room in the basement with built-in bookshelves, projector system and pull-down screen
  • Private room in the basement with separate entrance – perfect for home office, yoga studio or gym
  • Spacious 900 square foot hardwood custom deck and spa in the fenced backyard with sport court, fire pit, storage shed, garden space and fenced dog-run area
  • Electric forced air with heat pump
  • Connected city water and sewer

Visit the full Windermere listing here.

Visit this home’s custom website here.

8411 Wyatt Way NW for sale by Jen Pells Real Estate.

This adorable cottage on the west-end of Winslow is a must see. Open today (Saturday) 1-4.  Loads of charm and fine finishes inside and out. Three bedrooms, two baths and a private, flat, grassy yard. A great package – in town, close to the ferry, schools and trails.  Contact me if you would like a private tour.

Open House: Saturday 1-4pm

Quaint living spaces with original oak flooring from the 1940’s.

Crisp new kitchen with white wood cabinetry, high end appliances and quartz countertops.

Large dining area flows to the west-facing back deck. The perfect spot to enjoy summer dinners.

Main floor master suite.

Gorgeous master bathroom with frame-less shower door, marble vanity and modern tiles and fixtures.

Family room in the walk-out daylight basement. Also has office space, laundry and a private bedroom.

Patio space in the fenced area of the back yard. Grassy and flat. The motorized awning was recently added and remote controlled.

Details about the home:

Charming remodeled 3 bedroom cottage featuring original oak flooring, beautiful crown molding and crisp new custom kitchen with fir floors, stainless steel appliances and quartz countertops. Main floor master, luxurious baths with marble vanities. Easy entertaining with French doors to deck, patio and backyard. Newer roof, siding, furnace, hot water heater, retractable awning, shed, blinds, custom closet systems, and lighting. Easy commute with nearby trails to ferry, shops and restaurants.

  • Offered at $610,000
  • 3 bedroom/2 bathrooms in 1,974 sq feet
  • .65 acres, partially fenced
  • Extensive remodel in 2016 including plumbing, electrical and foundation
  • Remodeled kitchen with white wood cabinetry, quartz counters and high-end appliances
  • Main floor master suite
  • Spa-like master bathroom with dual sinks, marble countertops and modern fixtures
  • 1940’s oak flooring in living spaces
  • Fir flooring in kitchen
  • Second bedroom and bathroom on the main level
  • Bonus space, office space and private bedroom in daylight basement
  • Extra storage and laundry closet in daylight basement
  • Hunter Douglas Blinds throughout
  • Custom light fixtures throughout
  • French doors
  • Elfa Closet Systems & cedar closets throughout
  • Motorized awning over back patio
  • Fenced, flat, grassy backyard
  • West-facing deck off the dining area
  • 160 sq. ft. shed under the deck
  • Paved parking area with drainage and new gravel added to drive
  • Close to Winslow, schools and walking trails
  • Terrific condo alternative – no HOA dues

To see the full Windermere listing, click here.

 

I am excited to announce my newest listing on the sunny south end. This charming Fort Ward home provides a terrific opportunity for the next owner to earn some sweat equity – which is hard to find theses days. Over 3,000 square feet of living space plus over 2,000 sq ft of partially finished basement. Potential for MIL space, rental opportunity, guest space, home office/s, yoga studio – you name it. Come take a look for yourself during my open house on Sunday 1-4 or contact me for a private showing.

Open House

Sunday, April 15th from 1-4pm

Welcome to 2101 Belfair Ave on Bainbridge Island.

Charming, classic style on a sunny, flat lot.

A gracious entry way to greet your guests.

An extra-large kitchen with loads of storage, wood cabinetry and two pantries.

Main floor master with vaulted ceilings, french doors to the back deck and a five piece master bath with extra laundry.

Bright and sunny family room connects to deck and kitchen.

Three level home with flat and sunny backyard.

Partially finished basement has great potential for sweat equity. Plumbed bathroom, kitchen and wired media room.

Details about the home:

  • 3,000+ square feet of finished living space
  • 2,000+ square feet of partially finished basement space offers quick equity opportunity
  • .37 acre lot in sunny Fort Ward
  • 4 generously sized bedrooms, 2.5 bathrooms
  • Main floor master suite with 5 piece master bathroom
  • Vaulted and tall ceilings
  • Formal living and dining rooms
  • Updates in the master bathroom suite
  • Two laundry facilities
  • Hardwood floors on main level
  • New exterior paint in 2017
  • Connected sewer and water

Charming 3000 sq ft, 4 bedroom home with a 2,077 sq ft partially finished daylight basement plumbed for bath, kitchenette and media room. Hardwood floors and vaulted ceilings on main. Large kitchen, main floor master with 5 piece bath, 2 walk-in closets. Laundry on main and up. French doors open to sunny Trex deck on this flat, spacious lot in popular Fort Ward. New exterior paint. Some TLC needed. Sweat equity opportunity with the potential for 5,000 sq ft of living space. Connected sewer/water.

Click here to see the full Windermere listing details.

On April 13, 2018, in Home Tours, Homes, Listing, Moving, Neighborhoods, by

The 2018 market is ramping up fast, but I wanted to make sure I got to my favorite annual blog posts, my top 10 homes on the island for 2017. Last year 439 homes sold on the island – up from 369 last year – wow!  I am proud to say I personally toured the majority of them (that is a lot of laps around the island) and these are ten of my favorites. The list spans the island from north to south and represents the various price ranges, although that is not how I planned it, it just sort of ended up that way. The themes that jump out at me about last year are quality and character.  As speculation builders creep into our market more and more, quality construction and charming character homes continue to be harder to find. Homes that I love have soul.  The homes on this list are indeed soulful.

The sales prices continue to shift upward as the economy maintains its health and the Seattle area continues to be tech destination. Again, like last year, only two homes on the list are waterfront homes, which shows the desirability throughout our island; from inland pastoral, to convenient close-in neighborhoods, to the ever sought-after view and waterfront homes.The lack of inventory continued to be the predominate theme in 2017, which is why you will again see many multiple offers noted below in the list. In 2017, like 2016, the multiple offer scenarios crept up over the $1M mark, to the higher-end sales in several cases.

This is my 10th annual list. Wow, time flies when you are having fun.   To get a feel of the homes I personally enjoy touring and see all ten of my annual lists in one place, click here.  Have a fun virtual tour.

#10 | Sunrise Dr NE

#10

Original List Price $598,000

Sale Price $615,000 (multiple offers)

Days on Market – 6

Date Sold 6/28/2017

Click here for more photos and the full listing detail.

For #10 we start on the north end of the island on Sunrise Drive.  This home came on the market in the frenzy of the summer market and had multiple offers.  This home is surrounded by lush, established gardens and the interior style is bold, colorful and quirky. There are very few straight lines or boring colors in this home.  At just over 1,400 square feet the home lives large, making use of every inch and spills out to the garden spaces. The three stories gave you the feeling of being perched atop a magical tower and of course captures all possible light and views too.  A great start to the list that appreciates and celebrates non-cookie cutter style.

Jen Pells Real Estate Bainbridge Island

#9 | Clayton Place NW

#9

Original List Price $738,000

Sale Price $738,000

Days on Market – 10

Date Sold 6/14/2017

Click here for more photos and the full listing detail.

For #9 we move into Winslow to Clayton Place. In-town homes were in high demand once again last year.  Price per square foot is pricey in Winslow, where you trade lot size for Winslow convenience. Clayton Place is a quiet, small cul-de sac right at the edge of Winslow.  This home is just under 1,800 square feet and was listed at the beginning of summer at a price that some thought was aggressive. Yet, it took merely 10 days for the sellers to find the right buyer.  This home was originally spec built, but the sellers remodeled and styled the home into anything but ordinary.  The light and bright beach vibe is fun, colorful and downright likable.  The sellers added trim and wainscoting and chose great colors inside and out and I am always a fan of a modern metal roof.

Horizon View Place sold by Jen Pells Bainbridge Island Real Estate

#8 | Horizon View Place

#8

Original List Price $859,000

Sale Price $885,000

Days on Market –  4

Date Sold 5/24/2017

Click here for more photos and the full listing detail.

For #8 we stay in town and move over to Horizon View Place near the high school.  This modern rambler/farmhouse was built and sold to my buyers in 2015.  I was happy to re-list it for them in 2017 when they decided to move further out onto the Kitsap Peninsula and buy farmland.  This newer, one-level living home with finer, modern finishes, vaulted ceilings and an open floor plan was sought after by many.  The in-town proximity plus being adjacent to the newly renovated Rotary Park was a rare package. And right now, the new home options in Winslow are generally in developments, which this home was not.  We were thrilled to see an aggressive offer the first weekend, which helped my buyers quickly get to their next chapter.

#7 | Sorrel Way NE

#7

Original List Price $859,000

Sale Price $850,620 (multiple offers)

Days on Market – 20

Date Sold 11/13/2017

Click here for more photos and the full listing detail.

For #7 we head to the south end, to Sorrel Way, which sits above the Crystal Springs Neighborhood. I have always had a sweet spot for this home. It was a favorite back in 2009 when these sellers bought it.  The home does not scream anything overtly special, but the mellow hues, clean lines, whitewashed paneling, large west facing lot (which makes for epic sunsets) with custom designed  landscaping and a really good Rich Passage View, make it a rare, peaceful package on the south end. I had buyers crushed in 2009 when they could not get here fast enough to snap this one up. I was thrilled to help my buyers in 2017 be the winners in a multiple offer show-down.

#6 | Taylor Avenue NE

#6

Original List Price $975,000

Sale Price $1,060,000 (multiple offers)

Days on Market – 6

Date Sold 11/21/2017

Click here for more photos and the full listing detail.

For #6 we move to the south-central area of the island for Taylor Avenue NE. I don’t think Taylor Avenue could better represent what I characterize as the Bainbridge Package – the charming farmhouse with smart, modern updates on a large sunny lot.  Plenty of space for chickens and all that fun stuff.  This oh-so-cute home on Taylor Avenue was sold by sellers who enjoyed and loved it for 30 years. My buyers were one of five or six offers and they really, really wanted it.  The good thing was the sellers wanted to sell to buyers who really, really wanted it. It is not always about the highest price, but about the offer and all its parts and pieces.  My buyers are thrilled to be living in their ideal Bainbridge Package after living in town for seven years.

#5 | Mandus Olson Road NE

#5

Original List Price $934,900

Sale Price $1,085,000 (multiple offers)

Days on Market – 10

Date Sold 5/30/2017

Click here for more photos and the full listing detail.

For #5 we move to the center of the island and Mandus Olson Road NE. I have always really liked this area of the island because it is still close-in but feels very rural.  This larger, well built home on flat acreage caught the attention of many buyers.  This house makes the list for me for its large, fabulous, open kitchen. And it is a white kitchen, my favorite. I also really loved the open backyard and large deck space plus a bonus room over the connected garage.  The sellers had a fun mid-century modern style which made the house show really well too.  I recollect this home saw eight offers and had a steep escalation, one of the highest of the summer at $150,000. Here again is an example of the Bainbridge Package.

#4 | Parfitt Way SW

#4

Original List Price $1,175,000

Sale Price $1,250,000 (Contingent)

Days on Market – 14

Date Sold 9/27/2017

Click here for more photos and the full listing detail.

For #4 we stop at Parfitt Way SW back in Winslow. This home really made me swoon.  One of the many fabulous things about it is the very private, very lush patio room.  The plantings and design are fantastic.  The trickling of the fountain makes Winslow seem a world away, yet you are in the heart of it. The interior was re-imagined by Tom Kuniholm and re-designed by Michelle Burgess and Smallwood.  A fantastic revamp with high end finishes, clean lines, a soothing color palette and thoughtful use of spaces.  While I was previewing this home I sat down for a moment to pet the cat basking in the sun and I did not want to leave. Ever.

#3 | New Sweden Avenue NE

#3

Original List Price $1,550,000

Sale Price $1,600,000 (multiple offers)

Days on Market – 6

Date Sold 4/28/2017

Click here for more photos and the full listing detail.

For #3 we go back down south to New Sweden Avenue to this fantastic farmhouse on over 2.5 acres.  This home sits atop sunny acreage and is one of the best examples of an older home being lovingly restored to still look and feel old. The house also saw an add-on that flowed and worked really well.  I loved the house for its fantastic old world kitchen and fabulous woodwork and built-ins.  A prior owner was a master craftsman and built cabinets, an island, and built-ins that looked like they were in place since the turn of the century.  This house also saw multiple offers and again shows the popularity and desirability of quality, character homes on large properties. The Bainbridge Package.

#2 | Pleasant Beach Drive

#2

Original List Price $2,098,000

Sale Price $2,150,000 (multiple offers)

Days on Market – 7

Date Sold 5/9/2017

Click here for more photos and the full listing detail.

For #2 we stay on the south end and head over to Pleasant Beach Drive.  Known as the Gold Coast of Bainbridge Island, Pleasant Beach always draws a crowd, no matter the home, but this one was pretty amazing.  The owners completely remodeled the main home and guest cottage.  The main home was not large at about 2,000 square feet, but being all on one level it flowed easily outside to the south and west facing decks and primo low bank waterfront.  The walls of windows were a major showstopper and the kitchen was clearly designed for impressive entertaining. The butler’s pantry was appointed with a cookbook display wall and thoughtful storage.  And the guest cottage is so quaint and well designed guests will not want to leave.  It is no surprise this home saw multiple offers and a price escalation of over $50,000.00.

#1 | Euclid Avenue NE

#1

Original List Price $2,675,000

Sale Price $2,420,000

Days on Market – 125

Date Sold 11/10/2017

Click here for more photos and the full listing detail.

For #1 we go up to the north end again and end our list in Port Madison at Euclid Ave NE.  This home did not sell quickly and it did not have multiple offers, but it is fabulous none-the-less.  This home ticked all the boxes for me. Simplicity refined.  The sellers, who designed the home, clearly lived similarly to how we live in our home and I appreciated the design of the kitchen, living spaces and especially the LARGE mud room and laundry room. This is one of the best laundry rooms I have ever been in.

I also truly loved the use of wood and tall walls of windows and walls of concealed storage.  I also really appreciated how the bedrooms were not large (wasted space in my opinion), even the master. But, they did all have primo water views. Wow. This home just felt right to me the moment I walked in and tugged at me every day it was on the market. This medium-bank waterfront home sits toward the mouth of Port Madison and the boat traffic is a joy to watch. And beyond all of that, the home is in one of the best neighborhoods on the island with great sense of community plus shared beachfront and trails.

As we head into 2018 I am already on the lookout for special, soulful homes and I am making my list.  See you out there.

Again, to get a feel of the homes I like personally and see all nine of my lists in one place, click here.

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Windermere Real Estate/BI, Inc.