Nothing quite compares to the waterfront lifestyle on Bainbridge Island during the summer months. Aquatic adventures abound with long days spent at the water’s edge. In the spirit of the waterfront season, Realogics Sotheby’s International Realty recently released RSIRWaterfront.com, which takes a close look at sales trends in 14 counties around Western Washington with price trends and topographic maps of 27 waterfront communities. Below we have compiled thoughtful insights for Bainbridge Island and Kitsap County.
Bainbridge Island, Western & Eastern Shores
Average and median residential waterfront prices were respectively $1.5 million and $1.36 million on the eastern shore of Bainbridge Island, and respectively $1.66 million and $1.4 million in other parts of the Island.
There were 95 waterfront home sales on Bainbridge Island during the 15 months between January 2018 and March 2019. These included two condominium sales on the “city view” (eastern) shoreline, one selling for $549,000 in May, the other for $480,000 in August. Of the 30 residential sales along this shore, there were only four waterfront sales between March and July 2018; yet later, there were four sales each in August and October, and five in September.
On the remaining Bainbridge Island waterfront, there were 63 waterfront sales, of which ten sold in the peak month of May. Eight of the 63 were condominium sales, including two priced between one and two million dollars. One of these was an RSIR-listed Winslow condominium that sold for $1.2 million. RSIR listings sold at every corner of Bainbridge Island: two waterfront condominiums and 14 residential waterfront homes.
Port Ludlow to Hood Canal
The average residential waterfront prices paid were respectively $314,000 among 18 homes sold at Brinnon, $700,000 among 41 homes sold at Port Ludlow, and $1.14 million among 10 homes sold at Seabeck.
Along the lower Hood Canal, the busiest month for waterfront home sales was June, with ten sales; September was second with nine. Among the communities of Brinnon, Port Ludlow, and Seabeck, 80 waterfront homes were sold over the 15 months, eight of which closed at prices between one and three million dollars. The three top sales by selling price were east of Misery Point at Seabeck, along the road to Warrenville. Two of the properties sold at Seabeck and one at Port Ludlow were listed by RSIR. All eleven waterfront condominiums sold were at Port Ludlow, with an average selling price of $354,000.
North Kitsap County
The average residential waterfront prices paid were $837,000 among 11 homes sold at Hansville and $895,000 among 36 homes sold at Poulsbo.
Waterfront sales in this area comprised 49 homes sold during the 15 months. Six residential waterfront homes were sold monthly in both July and April. The area’s only two condominium sales were also contracted in the latter month at Poulsbo.
Thirteen waterfront homes were sold at prices exceeding a million dollars. Four of RSIR’s waterfront listings in this area sold for an average $1.26 million: two southwest of Lofall on Hood Canal; and two more north of Burke Bay on Port Orchard (the strait, not the city).