Kitsap County Housing Update – February 2025
Welcome to your Kitsap County Housing Update for February 2025! As we move further into the year, the market is showing signs of continued activity, with shifts in different price points and opportunities for both buyers and sellers. Let's dive into the latest stats and happenings around our beloved Kitsap County.
Market Stats – The Kitsap Housing Market Overview
January 2025 marked the continuation of post-holiday transitions, with more momentum beginning to build. We’re entering the season when both buyers and sellers begin to prepare for the spring market rush, but it’s important to take a closer look at where things stand now:
Market Activity By Price Point:
1. Under $400K – High Demand, Limited Inventory
The under $400K market remains highly competitive, particularly in areas like Bremerton and Port Orchard. With limited inventory and strong buyer demand, homes in this price range are continuing to see multiple offers. While we may see some seasonal slowdown as we head into the first quarter, expect this segment to remain a hot spot for first-time buyers and investors looking for a deal.
2. $400K - $700K – Balanced, with Steady Movement
The $400K to $700K market continues to show a balanced level of activity, with homes still attracting plenty of interest if they’re priced correctly and in good condition. Buyers in this range are looking for value and quality, particularly in areas that offer easy access to schools, parks, and commute routes. This price range is proving to be a sweet spot for sellers looking for a fair amount of buyer attention without the frenzy seen in the lower bracket.
3. $700K - $1M – A Slight Shift, But Still Competitive
Homes in the $700K to $1M range are seeing a slight increase in days on market as buyers become more discerning. Condition, location, and specific amenities are becoming key drivers of decision-making. This segment remains competitive, with many buyers interested in properties that offer a luxury lifestyle, whether it’s stunning waterfront views, expansive space, or proximity to top-tier amenities.
4. $1M+ – Luxury Market Shows Resilience
The luxury housing market in Kitsap, priced at $1M and above, continues to perform well despite a slightly slower start to the year. Demand for high-end properties, especially those with waterfront access or expansive estates, remains strong. Areas like Bainbridge Island, Poulsbo, and Silverdale are still seeing interest, and homes in this range are typically staying on the market for around 60 days, reflecting steady but selective buyer interest.
Market Intensity – What’s Happening Right Now?
The Kitsap market in January 2025 has been marked by moderate intensity. While the holiday season slowed things down, we’re seeing early signs of a busier spring market. There’s a balance between buyer and seller advantage in many price points, particularly in the lower and luxury ranges.
- Seller’s Market or Buyer’s Market?
It’s a balanced market right now, but the under $400K and luxury segments continue to favor sellers, while the mid-range market ($400K-$700K) offers more opportunities for buyers with a bit more inventory to choose from.
- Interest Rates and Market Outlook
Mortgage rates remain relatively stable, hovering around 7%. While these rates are slightly higher than in previous years, buyers are adapting, and sellers who price their homes right continue to see activity. This rate environment is shaping buyer expectations, especially for first-time buyers or those looking to upsize.
Community Shout-Out – The 19th Hole Bar & Grill
In addition to the housing market, it’s always great to highlight the vibrant community we’re a part of! This month, we’re spotlighting 🍺 The 19th Hole Bar & Grill 🍺, a Bremerton favorite that has been serving locals and visitors since 1939. Whether you're looking for a hearty meal, a refreshing drink, or simply a place to relax and enjoy good company, The 19th Hole offers a warm, welcoming atmosphere. Be sure to stop by and enjoy a meal while supporting this local gem.
Looking Ahead – Real Estate in Kitsap County for 2025
As we step into the new year, Kitsap County’s real estate market is primed for growth. The spring market, typically a busy season, will bring more properties to the market as sellers prepare for the summer selling season. Whether you’re a buyer looking to make your move or a seller gearing up for listing, there are opportunities for both.
Sellers: It’s a great time to get your home ready for sale. Make sure it’s in top shape to attract the right buyers. Consider staging, investing in minor repairs, and ensuring your home is move-in ready to maximize its value.
Buyers: While the market is competitive, there are still opportunities. Be sure to get pre-approved and stay proactive in your home search. The right property may be waiting just for you.
Your Next Step – Questions?
Do you have questions about the Kitsap County housing market or anything real estate-related? Whether you're curious about the latest market trends, how to list your home, or need tips on making your next move, I’m here to help! Don’t hesitate to reach out.
If you’re looking for more detailed market information or personalized advice, I’m here to guide you every step of the way. Let's set you up for success in 2025!
Thanks for reading this month’s Kitsap Housing Update. Stay tuned for next month’s update and community news. Don’t forget to reach out for any real estate advice or insights you might need!
Stay connected – The Kitsap way!
