Weekly Kitsap Marketing Statistics for June 1, 2009

The past two weeks the trend of new purchase offers written and accepted has decreased to 43 and then 39. The average over the previous six weeks was 54. Not a good trend! And as the number of accepted offers decreases, so will the number of closed sales (six week delay).

Here is the Kitsap recap for the week:

• 39 new purchase offers accepted by sellers (10 foreclosures and one short sale)
• 43 closed transactions (five foreclosures and one short sale)
• 1,770 active listings for sale county-wide
• 85 active listings for sale in Silverdale
• Absorption rate for Silverdale was 14.2 weeks (not bad)
• Absorption rate for Kitsap County was 41.2 weeks

Since I started "breaking out" the foreclosures and short sales the past two weeks it's evident that many buyers are avoiding short sales and focusing on foreclosures.

That's what I expected. Now I have proof.