Prowse and Company October 2010 Waterfront Update
By Admin
Prowse and Company’s October Waterfront Update is out - see the graphs and download the latest newsletter and stats at http://bprowse.com/kitsap_waterfront.
Just like last month, with otherwise lackluster sales in Kitsap County, (closed sales are down 19% from a year ago) we again had more closed waterfront sales that at any time since 2007. About 40% were in the $400 - 700k range. Move up buyers are snapping up bargain waterfront homes in this price range.
September’s waterfront listing inventory continues to drop after peaking in June. The inventory in September was close to the same as we’ve seen the past 2 years. The inventory turnover rate is about 10 months, still pretty slow. September closed sales were up 11% from August. As usual, only the most competitively priced homes are selling. You can see that some of our listings have reduced price again this month.
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