Kitsap Market Statistics for March 2, 2008

This is a recap of the market statistics for the past week:

• Active listings in Kitsap County - 1,784 (down from 1,823)


• New purchase contracts written throughout Kitap County - 46 (up from 37)


• 16 of 46 new contracts were either short sales or foreclosures - 35%


• Absorption rate for Silverdale - 22.3 weeks (down from 43.5 weeks)


• Absorption rate for county - 43.5 weeks (down from 62.9 weeks)


• Closed sales county-wide - 41 (up from 29)


• 14 of the 41 sales were either short sales or foreclosures - 34%

Summary: The number of short sales and foreclosures is one-third of activity. This is good because we need these properties sold so markets can begin to recover. Click here for average sale price info.