February on Bainbridge Island proved to be an active one in the Bainbridge Island Real Estate market. At the end of February there were approximately 191 homes for sale - an increase of 25 new listings. Aprroximately 43 were pending as of the last week in February. The Seller's market was found consistently in the $300-$350K range. The surprise was found by watching the $1,500-$1,749K range go to more of a balanced market with 4 listings and 2 pending. As you know if you have read this blog before, I monitor on a weekly basis the list to pending ratios of all price categories so as to spot trends before they happen and to keep my sellers and buyers informed of what is happening in the market. Based on what I am seeing in March, I think we might see that trend continue.
Another important data tool to watch is "what the market is buying". (see image above). There were 25 February closings and 60 percent of the sales were UNDER $500,000. If you would like more detailed info on any of the market data for Bainbridge Island, please feel free to call or email me.