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.
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