Market Reports

Island Events to Create a Memorable Summer

Island Events to Create a Memorable Summer

Island Events to Create a Memorable Summer

The days are long, the weather is warm, and Bainbridge Island is at its best with beautiful seasonal flowers blooming and plenty of fun community events on the horizon. It’s the loveliest time of year in the PNW, with residents spending more time out and about to soak in the gorgeous sunshine and infectious cheerful energy on the island. We’re digging into some of the best events this summer, from a classic car show to the ever-popular First Friday Art Walk, we’ll give you all the details on our favorite upcoming must-visits. We hope to see you out and about because the best part about attending is the gift of connecting with our remarkable community!

The Allure of Waterfront Living

The Allure of Waterfront Living

The Allure of Waterfront Living

There are few locales more alluring than the waterfront—whether it’s the sound of crashing ocean waves or brilliant sunsets over a calm, clear lake, there’s nothing like having a beautiful waterfront right in your own yard. For the entertainer, outdoor soirees in the fresh air as guests admire the views elevate any gathering. For the adventurer, waking up as the sun rises to go on a paddleboard ride or set sail on your boat is the perfect start to any day. Wildlife enthusiasts or birders are treated to front-row seats of bald eagle, whale, and seal sightings, and ocean explorers have tide pools and seashell collecting to entertain them for hours on end. Waterfront homes encourage residents to stop and appreciate the beauty surrounding them.

RSIR Waterfront Report 2023

RSIR Waterfront Report 2023

Realogics Sotheby’s International Realty proudly presents the 2023 Waterfront Report. The fifth annual report features 12 counties and 18 communities, exploring market trends over the past five years. This comprehensive report is designed to help buyers and sellers interested in waterfront properties, as well as provide waterfront homeowners with a snapshot of their niche market, whether they are preparing to list soon, or are keeping an eye on the market for years to come.

Market Trends From Around The Sound: Q1-2022

Market Trends From Around The Sound: Q1-2022

If we follow the trendlines from the first quarter of the year, then it’s still a great time to list a home for sale. With inventory low, and buyer demand remaining steady, year-over-year median price gains are likely to continue.

Market Trends: Fourth Quarter of 2021

Market Trends: Fourth Quarter of 2021

Typically, the real estate market slows down over the holiday season. Buyers take a break from their home search, whether from fatigue or just the hustle and bustle of the holidays. And sellers tend to focus on gathering with loved ones instead of preparing to list. But, 2021 has proved to be anything but typical: What little inventory there was in the fourth quarter of the year was scooped up by eager buyers, closing out a huge year for real estate.

RSIR Waterfront Report

RSIR Waterfront Report

The beautiful landscapes of the Pacific Northwest aren’t complete without our water views. From in-city waterfronts along our lakes and the majesty of the Puget Sound to island living and vistas along with Washington’s scenic port towns, there’s nothing like finding a piece of shoreline to call your own. Realogics Sotheby’s International Realty has observed over two years of waterfront transactions, from January 2019 through March 2021 across Western Washington’s most sought-after destinations.

Bainbridge Island Market Trends: Q4-2020

Bainbridge Island Market Trends: Q4-2020

When the clock struck midnight on December 31, few were disappointed to see 2020 end. But despite the difficulties endured over the last year, the real estate market remained resilient. It powered forward boasting median home prices that had continued to rise since the initial lockdown last March, more closed home sales than this time last year, and low inventory in nearly all the market areas.

2019-2020 Waterfront Report

2019-2020 Waterfront Report

The number of waterfront sales on Bainbridge Island dropped from 58 in 2018 to 43 in 2019. There are a few waterfront condominium units on the island, with modest but steady sales over the past two years. Excluding these sales reveals a sharper decline in waterfront residential sales, from 51 to 37 transactions. However, high-end sales moved in the opposite direction. There were 17 sales over $2.0 million in 2019, compared with nine such sales in 2018.

Bainbridge Island Market Trends: Q1-2020

Bainbridge Island Market Trends: Q1-2020

The first quarter of 2020 boasted a seller’s market on Bainbridge Island. The COVID-19 pandemic likely had an impact on the real estate market, it's not yet evident in data from the first three months of the year. Since this time last year, the area has been trending towards a seller’s market, with less inventory available. Median sales prices are up year-over-year as well, by almost 12 percent. While homes spent an average of 77 days on market, up 10 days from the first quarter in 2019, sellers were more likely to see more value in their homes, as the average price per square foot was up 23 percent.

Bainbridge Island Market Trends: Q3-2019

Bainbridge Island Market Trends: Q3-2019

After double-digit home price growth from the second quarter of 2018 to that of 2019, the median sales price of single-family homes on Bainbridge Island retraced slightly to $870,000 in the third quarter of 2019. Buyers in this area purchased homes with greater speed than seen in previous years as homes sold in an average of just 19 days on market—a sharp decline from the 44 days they spent on the market in both Q3-2017 and Q3-2018. Conditions are relatively favorable for both buyers and sellers, with a healthy supply of inventory, at 2.4 months.

Bainbridge Island Market Trends: Q2-2019

Bainbridge Island Market Trends: Q2-2019

After a year-over-year retracement of the median sales price of single-family homes in the first quarter of 2019, home values saw double-digit growth in the second quarter of the year, increasing from $865,000 in Q2-2018 to $979,000 in Q2-2019, a 13.2% gain. It is thus no surprise that the neutral market we reported in the first quarter has now shifted back into a seller’s market, with 2 months of inventory. Though the average cumulative days on market was up slightly from this time last year—at 33 days—it was markedly lower than Q1-2019, when homes sold in an average of 67 days.

2019 Waterfront Update

2019 Waterfront Update

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 Market Trends: Q1-2019

Bainbridge Island Market Trends: Q1-2019

The market slowdown that began in the fourth quarter of 2018 continued into the first quarter of 2019, with the median sales price of single-family homes on Bainbridge Island settling at $843,000, a 6.33% retracement from the first quarter of 2018 (when homes sold for $900,000). In the first quarter of 2018, we reported a sharp decline in inventory, however as was the case in many markets, inventory rose on Bainbridge Island in Q1-2019, pushing into a neutral market, with 3.2 months of inventory.

Annual Market Update: Bainbridge Island

Annual Market Update: Bainbridge Island

The data for 2018 is in and Realogics Sotheby’s International Realty has put together a comprehensive market report that covers eight key counties and 31 regional markets around the Puget Sound. Below, I’ve outlined trends from Kitsap County, Bainbridge Island and Poulsbo for you to consider as we move into the busiest sales season of the year in our real estate market.