Poulsbo real estate

Poulsbo Real Estate

Statistics we refer to are for that part of Poulsbo encompassing the downtown core, from the head of Liberty Bay southeast to Ne-Si-Ka Bay, including parts north to Sawdust Hill Rd. The market for other parts of Poulsbo and its suburbs should have approximately similar trends. Homes in Poulsbo were selling for a median price of about $349,006 at the end of March, down about 7.2% from a year ago. Kitsap County median prices have fallen 5.3% over the past year. The number of closed sales YTD has fallen 3% compared to last year (a sharp decrease from last month's plus 23%), and the number of YTD pending sales has increased 7%. This compares to a drop of 26% since a year ago for Kitsap County as a whole. A large portion of the currently pending sales is from presales at one moderately priced new construction development - homes that never appeared as active listings. The Poulsbo listing inventory (160) has risen by 47% compared to a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 7.3 months. Calculating inventory turnover in this manner is artificially low since a number of the new construction homes closing did not show as active listings. Of 48 current pending sales, 43 are new construction. Using only the 100 non-new construction active listings in Poulsbo and the 10 non new construction sales closed last month, the inventory turnover would be 10 months.

Poulsbo still enjoys a small town character that attracts buyers who work in Silverdale and Bremerton as well as commuters to Seattle or Poulsbo. Many areas around Poulsbo are rural, but the city itself enjoys the coordinated and planned services of a city. Poulsbo waterfront is extensive, including a long stretch of properties on the Hood Canal and the long shoreline of Liberty Bay, which winds in from the east. Development of the Olhava property on the west side of town includes a north campus for Olympic College, a large Walmart, Home Depot, and numerous other chain outlets that serve Poulsbo and North Kitsap, Bainbridge, and residents of Jefferson County across the Hood Canal. Poulsbo is continuing to develop and grow. Trulia.com has a consise statistical summary about Poulsbo.

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