The Stetson Ridge Neighborhood on Bainbridge Island

A home in the Stetson Ridge Neighborhood on Bainbridge Island

One of the original homes on Haley Loop, built by Cox Homes in 2001.

A home in the Stetson Ridge Neighborhood on Bainbridge Island

One of the newer homes built by Chaffey in 2007.

A home in the Stetson Ridge Neighborhood on Bainbridge Island

A newer custom home on Haley Loop built by Landmark Homes in 2006.

A home in the Stetson Ridge Neighborhood on Bainbridge Island

A newer home on Ledgestone Loop built by Western Devco in 2008 .

A home in the Stetson Ridge Neighborhood on Bainbridge Island

Another newer home on Haley Loop built by Landmark Homes in 2006, shows one of the over acre lots.

The Stetson Ridge Neighborhood is a neighborhood of about 40 homes on the south-central portion of the island. The neighborhood is comprised of large, newer homes also on large lots. Homes sizes range from 3500 to over 5000 square feet and the lots range from .50 acres to over 1.25 acres. Set high upon the hill, some homes enjoy a Seattle city view or partial view.

The first homes were built in 2000, the bulk being built in 2001 and 2002 by Landmark Homes. Chaffey Homes also developed two cul-de sacs in Stetson Ridge between 2001 and 2008. Another handful of custom homes were built by Western Devco in 2007 and 2008. Poor timing in the construction market returned three of the Western Devco homes to the bank and resulted in 2 bank sales in 2009.

A Close-in Neighborhood

Stetson Ridge, since its inception, has been a popular neighborhood, because it is close to Winslow (the ferry) and you lave a large newer homes, on large lots, but you still have a neighborhood feel – you are not isolated on an acre in the woods.

Now More Affordable

I am going to go a bit further in depth than I have in some of my other neighborhood posts, because the higher end market on the island has seen dramatic price reductions over the past three years – and since this is a neighborhood of high end homes, it is worth looking at further.

In 2007, the price of entry into Stetson Ridge was right about a million dollars. As the market declined, the higher-end market here on the island was among the hardest hit. The new construction sitting unsold in Stetson Ridge in 2007 helped soften the market and then adding to that the bank sales this year – the result – prices have seen a substantial decline between 2007 and now.

If you look below you’ll see that in 2007 you needed a million dollars to move into this neighborhood, but in 2009, no sales were over one million. The average price in Stetson Ridge has dropped 30% from 2007 to 2009, making entry into this great neighborhood much more affordable. There are a handful of homes for sale in the neighborhood, contact me if you’d like more information.

Recap of Sales 2007 thru 2009

chart of home sales

Month Price sqft Acres Built
2009 Apr $825,000 3,509 0.71 2000
May $998,000 4,779 1.22 2007 new
Jul $945,000 4,139 1.10 2006
Aug $679,000 3,728 0.55 2007 bank owned/new
Sep $735,000 3,719 0.50 2007 bank owned/new
Nov $839,400 3,722 1.20 2006
Dec $745,000 4,328 0.88 2002
Ave. $823,771 3,989 $206.50/sqft
2008 Mar $1,085,000 4,104 1.22 2006
Mar $1,260,000 3,722 1.20 2006
May $1,050,000 4,867 0.86 2002
Jul $1,100,000 3,719 0.53 2007 new
Sep $955,000 4,152 0.68 2001
Dec $939,000 4,498 1.22 2007 new
Ave. $1,064,833 4,177 $254.93/sqft
2007 Mar $1,189,000 4,120 1.22 2006 new
Mar $1,250,000 4,000 1.23 2006 new
May $1,279,000 4,068 1.22 2006 new
Jul $985,000 4,246 1.00 2005
Aug $1,200,000 4,142 0.95 2001
Ave. $1,180,600 4,115 $286.89/sqft

Click here and here to see homes FOR SALE in and around the Stetson Ridge Neighborhood.

On January 6, 2010, in Neighborhoods, Photos, by

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