More resale listings, more homes going under contract in Kitsap County
By Tom Earnest | Real Estate Broker / Realtor
Leading Indicators
Starting in 2024, the number of new resale listings started to increase compared to the same time last year. This is the leading indicator that more home buyers are entering the market, as many home buyers need to sell their current home before purchasing their next property.
As we progress through 2025, Kitsap County’s housing market presents a nuanced landscape shaped by modest growth, fluctuating inventory, and evolving buyer-seller dynamics. Understanding these trends is crucial for stakeholders aiming to navigate the market effectively.
Current Market Overview
As of December 2024, the median home price in Kitsap County was approximately $548,770, reflecting a 2.6% increase from the previous year. This steady appreciation underscores the county’s enduring appeal to homebuyers.
In Bremerton for example, a significant urban center within the county, the housing market has demonstrated even more pronounced growth. The median home price reached $470,006, marking a 6.5% rise over the past year. This surge indicates a robust demand, potentially driven by Bremerton’s strategic location and amenities.
Inventory and Market Dynamics
The county continues to exhibit characteristics of a seller’s market, where demand outpaces supply. In December 2024, there were 872 homes listed for sale, representing an 18% decrease from the previous month. This contraction in inventory could exert upward pressure on prices if buyer interest remains strong.
Homes in Kitsap County are selling relatively swiftly, with an average of 41 days on the market, a slight increase from 37 days the previous year. This indicates sustained buyer activity, although the marginal increase in days on the market suggests a potential shift towards a more balanced environment.
Regional Comparisons and Future Outlook
When compared to neighboring counties, Kitsap’s housing market exhibits unique trends. For instance, Pierce County experienced a 4.8% increase in median home prices, while Mason County saw a 4.4% rise during the same period. Kitsap’s growth, though modest, aligns with these regional patterns, suggesting a stable market trajectory.
Looking ahead, the broader Washington State housing market is anticipated to undergo moderate growth followed by relative stability through 2025. While specific forecasts for Kitsap County are limited, its recent performance suggests alignment with these statewide trends.
Considerations for Buyers and Sellers
For prospective buyers, the current market conditions underscore the importance of timely decision-making and thorough preparation. With homes selling relatively quickly and inventory levels low, being pre-approved for financing and ready to act can be advantageous.
Sellers, on the other hand, continue to benefit from favorable market conditions. However, the slight increase in days on the market and the modest price appreciation suggest that realistic pricing and strategic marketing remain essential to attract qualified buyers.
6 Key Factors for Today’s Housing Market:
Job Growth: Close to job centers
Home Mortgage Interest Rates: Forecasted to be in the 6% range in 2025
Tight Housing Supply: Close to job centers
Energy Costs: Anticipated to lower
Luxury Housing Market: U.S. economy, job growth, and wealth effects drive the luxury market
Lifestyle/Destination Communities: As the major metro areas heat up on the west coast, transactions spread throughout the Northwest.
Conclusion
Kitsap County’s housing market in 2025 is characterized by steady price growth, limited inventory, and a competitive landscape. Both buyers and sellers should stay informed about these trends to make well-informed decisions. Engaging with local real estate professionals and monitoring market developments will be key to navigating this evolving market successfully.
Remember: If any of your family or friends are thinking of moving and have any questions or need guidance, please let me know.
Leave a Reply