Manette Market Statistics – August
Active Listings - 21
Contingent Listings – 1 *This property has gone pending, back on market, pending, back on market and now is contingent.
Pending Listings - 5
Sold Listings – 2
Manette is seeing significant reduced housing inventory from July to August. July averaged 27 active listings – August had 21 active listings. Wow! This is a 23% reduction in housing inventory. Manette is a popular neighborhood. And, fun to watch the real estate market in Manette. We need homes to sell – buyers need homes to buy. Please call me 360-440-7237 if you’re interested in selling your home. I will give you a free professional market analysis and marketing plan for the sale of your home.
As of Sept. 13, there are only 17 active listings in Manette – homes are continuing to sell, and fast! Here is a chart of the current active listings in Manette:
Where did the active listings from August go? As you will see next month, September will have many pending and sold listings to report. Unless we see a surge of new listings (anyone want to sell their home? Call 360-440-7237!!! Did I mention you may want to sell right now?!?!? Call…360-440-7237 : )…As I was saying, unless there is a surge of new listings, inventory will continue to shrink. Yikes.
Contrary to past market cycles, low inventory is not raising housing prices to extraordinary levels in Kitsap County. Perhaps this is because home buyers can only afford what they can afford, and are very aware of this issue now after the last housing crisis. The low inventory is providing a market where a well-priced home can sell quickly and with minimal to no buyer concessions.
Average Days on Market (ADM=Average Days on Market): The Average Days on Market tells you how quickly homes are selling in a particular area.
4 Bedroom ADM = 69 *this is skewed a bit as it represents only one sold home (one of my listings:). Prior to this stat, ADM for 4 bedroom homes in Manette was averaging 95 days on market. We may see this statistic gravitate back towards 95 days.
3 Bedrooms ADM = 33 days *this is down significantly from 110 days last month, meaning houses are selling much faster.
2 Bedrooms ADM = 48 days * days on market has increased slightly from 45 ADM last month. Not a significant difference.
What I find interesting is that in June and July, 2 bedroom houses were selling faster than 3 bedroom houses. As you see, this trend has reversed in August with 3 bedroom homes now selling faster than 2 bedroom homes. A potential move towards smaller homes is a statistic worth watching. The other trend I am seeing is that buyers are paying top dollar for updated homes. Buyers get very excited when they see a new kitchen and well-maintained home for sale.
Have I mentioned (big smile) – if you are interested in selling or buying a home, please call 360-440-7237. I am available to answer questions and help you.
Stephanie Dupuis - Broker, Realtor
RE/MAX Platinum Services