june 2010 bainbridge island real estate market statistics link:

http://www.bainbridgeislandferrytails.com/index.cfm/page/77846/parent/15898/2010.html         

just scroll to the bottom of the page and click on the individual lines of text, each of which is a link to a pdf file.

market summary

the number of residential sales on the island through the first half of 2010 was up by over 65% (from 83 sales to 137 sales) over the same period last year. that's good news. however, the sales activity in calendar 2009 set the bar pretty low as a basis for comparison. short sales or bank owned sales continue to be a significant percentage of total sales, exerting downward pressure on prices. we have experienced a slowdown in contracts being written since the expiration of the federal homebuyer tax credit deadline as evidenced by the decline in percentage of residential single-family listings "under contract" from the 20% range to the 13% range. while the majority of residential sales activity continues to be in the under $700,000 price range we did experience an increase in closings in the $700,000 to $1,000,000 price range.  in the $1,000,000 and above price range sales activity continues to be pretty bleak. condominium sales year-to-date increased over 20% from the same period last year while land sales, which were dismal through 2008 and 2009, have shown some improvement, up over 40% from 2009 levels. a broker friend of mine from colorado has been touting the 80/20 rule as it applies to the current residential real estate market: according to him, about 20% of the sellers are serious about selling and about 20% percent of the buyers are really serious about buying. so, if you really need to sell you need to be pretty aggressive in pricing your property. to close on a positive note, real estate loan rates continue to be at historical lows. and perhaps the best news to date, summer may have finally arrived if you're willing to wait until 3:00 pm for the cloud cover to burn off.

as of july 15, 2010 - number of current bainbridge island "under contract listings" divided by the total number of "current listings" on bainbridge island for each property category.

residential - 41/307 = 0.13          (down from 0.17 as of june 15, 2010)

condominium - 6/92 = 0.07         (down from 0.22 as of june 15, 2010)

land - 9/104 = 0.09                    (down from 0.13 as of june 15, 2010)

this statistic is an attempt to capture a glimpse of more current market activity rather than having to extrapolate historical sales data.  these stats are also available historically as well as for various price ranges within each property category at the link above.

new web site search functions - sold listings

i have added some new simplified property search functions to my web site.  in addition to being able to search all bi property listings by property category, all bi home listings by price range, all bi property listings by neighborhood, all bi property listings by address or mls number, all bi public open houses scheduled for the coming weekend, and all bi properties newly listed within the past 24 hours, now you can easily search recent bainbridge island home sales by price range and recent bainbridge island property sales by property category (for example, recent bainbridge island waterfront home sales, or recent bainbridge island land sales).

what's happening in your neck of the woods?

like to keep your finger on the pulse of bainbridge island real estate for your neighborhood?, for properties in a certain price range?, for waterfront properties?, for condominiums? no problem.

if you'd like to receive daily email updates of current bainbridge island real estate activity in terms of new listings in a specified property profile (e. g., all waterfront homes, all homes in a specified price range, all condominiums, etc.) you can easily create a personal account and be notified of new listings daily by email as follows:

• click the following link: http://bainbridgeislandferrytails.com/
• click on the "click here to log in" text link in the "create an account" blue rectangular box in the left hand column
• click the "click here to get started" text link
• enter you personal profile information (name, email address, user name, password, etc.)
• click the "create account" button at the bottom of the page and you're in 
• a gold horizontal bar should appear across the top of the page titled "welcome 'your name'"
• no, your account information will not be passed on to anyone else
• to create a search, click on the "search all bi properties by category" text link in the left hand column
• enter the property search parameters (price range, property type, price display order, etc.) of your choice (for bainbridge island enter 98110 in the zip code box)
• click the "start search" button
• click the blue "save search" button
• give the search a title of your choice
• indicate "instant" or "nightly" email notification schedule by clicking the appropriate "circle"
• click the "save this search criteria" button and you're done

your search will be saved and can be accessed for editing or deletion by clicking on the "searches" text link on the gold horizontal bar at the top of the page that is titled "welcome 'your name'".  you can also refine, edit, or delete your searches or change your email notification schedule from this page.  you will be notified by email of any new listings that match your search parameters.

alternatively, if you prefer, email me with your interests or property profile parameters and i will set up an account for you with daily auto-email notification of new listings that match your search criteria.

blog posts

please feel free to check out some of my blog posts at http://bainbridgeislandferrytails.com/blog recent posts highlight the fragility of the u. s. housing market and the "slippery slope of short sales".

as always, if you know someone who you think may be interested in these statistics or blog posts please feel free to either forward this email or ask them to email me and i will add them to my email distribution list.  likewise, if you would like me to remove you from my email distribution list please contact me.