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Accordingly, the sales activity reported by the Center will be higher than other measures, but should be generally consistent in terms of percentage changes.
STATEWIDE HOME SALES UP BY 6.5% KITSAP COUNTY SALES UP BY 7.4%
Statewide home sales performance in the third quarter of 1999 was 6.5 percent above a year earlier. Kitsap was one of 15 counties that out-performed the state. The 1,050 sales tallied in the county during the third quarter represented an increase of 7.4 percent compared to 1998.
| RESALE HOUSING ACTIVITY - 1995-1999 SECOND QUARTERS | |||||||
| County | 1995 | 1996 | 1997 | 1998 | 1999 | Percent Change 97-98 | Percent Change 98-99 |
| Benton/ Franklin | 610 | 700 | 860 | 800 | 800 | -7.2 | 0.0 |
| Clark | 940 | 1,210 | 1,230 | 1,510 | 1,410 | 22.4 | -6.6 |
| King | 7,150 | 8,950 | 9,340 | 9,810 | 10,620 | 5.1 | 8.3 |
| Kitsap | 1,020 | 940 | 990 | 1,140 | 1,300 | 14.8 | 13.8 |
| Pierce | 3,150 | 3,950 | 4,460 | 5,540 | 7,330 | 24.3 | 32.4 |
| Snohomish | 2,340 | 3,020 | 3,340 | 3,830 | 3,760 | 14.8 | -1.8 |
| Spokane | 1,670 | 1,710 | 1,660 | 1,870 | 1,850 | 12.8 | -1.0 |
| Thurson | 520 | 670 | 600 | 790 | 840 | 32.1 | 6.1 |
| Whatcom | 680 | 600 | 770 | 900 | 940 | 16.8 | 4.5 |
| Statewide | 23,360 | 27,320 | 28,740 | 32,460 | 35,130 | 12.9 | 8.1 |
KITSAP COUNTY MEDIAN PRICE ($140K) IS $100K LESS THAN KING
Only real estate licensees and homeowners who are currently trying to sell homes, or potential buyers who are actively searching for a home are concerned with how many homes are selling and how long it takes to market an individual home. All owners and potential owners, however, have keen interest in trends in housing prices. During periods of rapid appreciation, home values are primary topics of conversation at cocktail parties. During slow markets, apprehension about housing values sets in.
After finally joining the much-heralded wave of home price increases in late 1998 and early 1999, Kitsap county experienced a modest retreat during the third quarter, as the median price slid 6.7 percent compared to the third quarter of 1998. The $140,000 median price reported locally was the 10th highest county-wide median in the state, but was roughly $100,000 less than the median price in King county. As expected, most of the higher prices are found in other urban counties. Aside from King, San Juan and Snohomish counties, the next group is very tightly bunched in terms of prices. In general, areas east of the Cascade Mountains are less expensive.
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