Bainbridge Island Real Estate Market Update | March 2020

Market Update MAR 2020

Despite this unprecedented time, our local real estate market is growing. The housing inventory is still modest, but on an upward trend. The current stay at home order allows real estate agents to show homes, but with limitations. Next month’s update will reflect the first full month of impact in our area from the Coronavirus.

February ended with 38± homes on the market. At the end of March, there were 55± homes for sale. There were 47 new listings, 17 of which went under contract. Additionally, 7 homes already on the market went under contract for a total of 24 (see below). There were 27 sales that closed in March at a median sales price of $1,100,000 with an average market time of 83 days.

Comparatively, at the end of March last year, there were 44± homes for sale, 40 homes that went under contract, and 13 closed sales at a median sales price of $1,110,000 with an average market time of 65 days.

Year-to-date, there have been 66 closed sales at a median sales price of $942,500. Compared to the same period last year, there were 50 closed sales at a median sales price of $842,500, a 32% increase in volume and 11.87% increase in the median sales price. (Note: the median price is skewed by such a small sample size so early in the year.)

Here are the 24 homes that went under contract in March:

Price Address Contract Date
1 $545,000 9818 NE Day Road E 3/21
2 $593,000 6736 NE Baker Hill Road 3/28
3 $625,000 12511 Kallgren Road NE 3/10
4 $659,000 11220 Parkhill Place NE 3/4
5 $660,000 824 Eagle Cliff Road NE 3/28
6 $665,000 6701 NE Day Road 3/2 Closed 3/2 @ $665,000
7 $668,000 381 Ihland Way NW 3/24
8 $675,000 12445 North Madison Ave NE 3/12
9 $695,000 15747 Point Monroe Drive NE 3/24 Waterfront
10 $718,000 1815 Parkview Drive NE 3/27
11 $729,000 8240 NE Baker Hill Road 3/22
12 $739,000 6405 NE Agate Beach Lane 3/19
13 $759,000 755 Fords Court NW 3/18
14 $809,000 5180 NE Sullivan Road 3/24
15 $810,000 786 Fairview Avenue NE 3/11
16 $880,000 5356 Diamond Place NE 3/22
17 $898,000 7883 Fletcher Bay Road NE 3/11
18 $899,000 1131 Cherry Avenue NE 3/30
19 $1,195,000 12169 Arrow Point Loop NE 3/23 Waterfront
20 $1,195,000 6440 NE Hidden Cove Road 3/6
21 $1,245,000 10144 NE Kitsap Street 3/2
22 $1,300,000 241 Lovell Avenue SW 3/30 Wft; Closed 3/30 @ $1,300,000
23 $1,448,000 6647 NE Baker Hill Road 3/16
24 $2,196,000 15733 Point Monroe Drive NE 3/29 Waterfront

 

Information and statistics derived from Northwest Multiple Listing Service.

 

Posted on April 5, 2020 at 1:15 am
Bill Hunt | Category: Real Estate Market Update, Uncategorized | Tagged , , , ,

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