Kitsap County Market Statistics for June 1, 2008

The absorption rate for Silverdale dropped almost half to 25.8 weeks of homes for sale while the absorption rate for Kitsap County remained relatively unchanged at 52.9 weeks.

There were six properties in Silverdale that changed to a "pending sale" status which means that any findings identified by a general building inspection were either acceptable to the buyers or not, in which case the sellers agreed to correct the situation.

I did some extra research on these six properties and found that the price had been reduced at least 8.3% from the original list price and the average time on market was 203 days (median was 151 days).

The final sale price will not be available until these sales "close" and I'm betting the discount will be more than 10%.