Industry News Market Update News

Kitsap Housing Market Heats Up

Photo: iStock

Julianne Stanford | Kitsap Sun

Although Kitsap County’s housing market has been firmly balanced in the favor of sellers for most of the year, buyers are now finding they have regained some bargaining power heading into summer, as more houses are coming onto the market.

“We have a lot more listings, which means there will be more competition between sellers,” said Silverdale-based John L. Scott broker Shelley Morritt.

Although the number of active listings on the market reached a five-year low for May, the number of homes that were newly listed on the market last month reached a new high, according to statistics from the Northwest Multiple Listing Service. The service tracks homes on the market and newly listed homes separately.

Prospective home buyers only had 519 active listings to consider last month, down by more than 22 percent from the 671 homes listed on the market this time last year.

Read more about the heated market in Kitsap here!

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