Low inventory creates backlog of potential homebuyers

Julianne Stanford | Kitsap Sun

Buyers looking to purchase a home in Kitsap County’s housing market continue to face tough competition with rising home prices and a dwindling supply of active listings, according to statistics released by the Northwest Multiple Listing Service.

…Almost 70 percent of homes in the county are being sold within the first 30 days of listing on the market and many of those sellers received multiple offers, said Bremerton-based John L. Scott broker Greg Miller.

The number of homes sold in the county last month increased by 8 percent from the same time last year, hitting a seasonal five-year high last month, up to 295 sales from 273 in 2017. Meanwhile, fewer new homes were listed on the market last month, down from 346 newly listed homes in February 2017 to 319.

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