Bainbridge Island Real Estate Market Update | April 2020

Bainbridge Island Real Estate Market Update APRIL 2020

Although the real estate market is showing the effects of the economic slowdown due to the Coronavirus, it is surprisingly busier than expected. And despite the decline in inventory compared to this time last year, the ratio of properties that went under contract versus new listings held steady at 50% and the number of sales year-to-date are nearly identical.

March ended with 55± homes on the market. At the end of April, there were 53± homes for sale. There were 31 new listings, 16 of which went under contract. Additionally, 15 homes already on the market went under contract for a total of 31 (see below). There were 22 sales that closed in April at a median sales price of $835,000 with an average market time of 33 days.

Comparatively, at the end of April last year, there were 73± homes for sale, 43 homes that went under contract, and 37 closed sales at a median sales price of $893,000 with an average market time of 51 days.

Year-to-date, there have been 88 closed sales at a median sales price of $921,000. Compared to the same period last year, there were 87 closed sales at a median sales price of $855,000, essentially the same volume with a 7.7% increase in the median sales price.

Here are the 31 homes that went under contract in April:

 

Price Address Contract Date
1 $590,000 816 Strawberry Lane NW 4/30
2 $599,000 5574 New Sweden Avenue NE 4/23
3 $689,000 537 Cherry Avenue NE 4/27
4 $695,000 10754 NE Bill Point Drive 4/26
5 $698,000 320 Nicholson Place NW 4/21
6 $739,000 6405 NE Agate Beach Lane 4/26
7 $760,000 1162 Grow Avenue NW 4/28
8 $789,000 10689 NE Byron Drive 4/18
9 $818,000 5800 Battle Point Drive NE 4/25
10 $829,000 14419 N Madison Avenue NE 4/30
11 $829,000 9591 NE Battle Point Drive 4/13
12 $859,000 380 Cosgrove Street NW 4/4
13 $875,000 1894 Commodore Lane NW 4/30
14 $875,000 9807 NE Radio School Road 4/14
15 $998,000 11138 NE Wing Point Drive 4/7
16 $1,100,000 8954 Trimble Avenue NE 4/27
17 $1,199,000 7354 NE West Port Madison Road 4/27
18 $1,248,000 8298 Grand Avenue NE 4/20
19 $1,250,000 15638 Point Monroe Drive NE 4/27 Waterfront
20 $1,250,000 1013 Cherry Avenue NE 4/28
21 $1,395,000 14044 Sunrise Drive NE 4/18
22 $1,398,000 15435 Harvey Road NE 4/2
23 $1,475,000 6710 NE Dapple Court 4/28
24 $1,485,000 4811 NE Dotson Loop 4/28
25 $1,495,000 4480 North Tolo Road NE 4/14 House Sale Contingent
26 $1,575,000 12662 Sunrise Drive NE 4/26
27 $1,598,000 4422 New Sweden Road NE 4/15 Closed 4/15 @ $1,598,000
28 $1,850,000 7738 NE Yeomalt Point Drive 4/23 Waterfront
29 $1,998,000 10717 NE Manitou Park Boulevard 4/16
30 $1,999,999 11691 Sunset Avenue NE 4/8
31 $3,595,000 13558 Sunrise Drive NE 4/30 Waterfront

 

Information and statistics derived from Northwest Multiple Listing Service.

Posted on May 5, 2020 at 3:38 am
Bill Hunt | Category: Real Estate Market Update | Tagged , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *