January 2021 Bremerton Market Report

Traditionally, January is not a high-volume listing month. This year, we were 79% of last year's volume. It's a little misleading though, because new construction got a jump on the year by listing a ton of inventory in December. Many new-construction neighborhoods are currently pre-selling houses for a July-September move-in.

Here's a graphic that shows the cold, hard fact that we are experiencing record-breaking lack of inventory. Bremerton wide, we had half the active inventory of January 2020--a month that itself was very close to record-low levels.

Despite the low listing levels, properties in contract with waiting buyers continued outpacing last year's numbers by about 1/5 to 1/2. I think this reflects the long pending phase in most new-construction contracts.

The number of closed sales were up overall from January last year. Take a look at 98310--that includes the Manette/East Bremerton market segment.

Finally, the median prices. Remember that these are monthly figures--not rolling averages so there's more volatility in these numbers than if we were averaging data from the past 6 or 12 months. (The sharp increase in prices is shown in the 'smoother' charts as well.) There's just no doubt that Bremerton is experiencing market appreciation unlike anything in the past two decades.

Thanks for reading! Please comment below, or give me a call so we can talk more about this. I LOVE talking about this stuff!

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