Kitsap Housing Update January 2025

Welcome to your Kitsap County Housing Update for January 2025! The year is off to a great start, and we’re diving into the latest market stats, community happenings, and some exciting perks just for you. Whether you're thinking about selling, buying, or just staying informed about the local market, this is your go-to source for all things Kitsap real estate!

Market Stats – Breaking Down Kitsap County’s Housing Market

The Kitsap housing market in December 2024 showed some interesting shifts, as we continue to navigate the nuances of a post-holiday, pre-spring market. Whether you’re a home seller or buyer, understanding the latest trends by price point and market intensity is crucial to making informed decisions.

Market Activity By Price Point:

1. Under $400K – A Competitive Sweet Spot

The under $400K market continues to be highly competitive, especially in Kitsap’s most desirable areas. Homes in this price range saw multiple offers in many communities, particularly in places like Bremerton and Port Orchard. The total number of homes sold in this price bracket dipped slightly from the previous month, but properties that were well-priced and in move-in condition were scooped up quickly. Expect continued demand, though with a slight seasonal slowdown as we get into the first quarter.

2. $400K - $700K – Steady, with Signs of Strength

The $400K to $700K range represents a balanced market in Kitsap. Homes here aren’t flying off the shelves as quickly as the sub-$400K market, but sellers are still seeing strong interest, especially when homes are well-maintained and thoughtfully staged. Prices have held steady compared to last month, and we’re seeing buyers who are ready to make a move, especially in areas with good access to schools, parks, and commuting routes to Seattle or Silverdale. If you’re considering selling in this price range, it’s still a good time to list.

3. $700K - $1M – A Few More Days on Market, But Still Hot

In the $700K to $1M range, buyers are becoming a little more discerning, especially in terms of home condition and location. Homes in this bracket are typically seeing 30-45 days on the market before being under contract, and the competition is still there—but it’s a bit quieter than in the under $700K price point. Buyers who are interested in this price range are looking for luxury, space, and amenities that cater to a more elevated lifestyle, such as stunning waterfront views, privacy, or proximity to Kitsap’s best luxury offerings.

4. $1M+ – Luxury Homes Continue to Perform Well

The luxury housing market ($1M and above) in Kitsap has been relatively resilient, with a surprising uptick in activity compared to previous years. Demand for high-end homes with waterfront access, sprawling estates, and luxurious finishes remains strong, especially in Silverdale, Bainbridge Island, and Poulsbo. Buyers are still showing interest in this segment, and inventory is relatively low, which helps maintain strong pricing. Homes in this price range are staying on the market for around 60 days on average, and sellers who price their homes competitively are still seeing action.

Market Intensity – What You Need to Know Right Now

December in Kitsap County was defined by moderate market intensity. With the holidays behind us, many buyers and sellers are still easing into 2025. However, we’re seeing the early stirrings of what will likely be a more active spring market. The seasonal lull is real, but it presents an opportunity for motivated buyers who are looking to get a jump on their competition in the coming months.

- Seller’s Market or Buyer’s Market?

We’re currently in a bit of a balanced market, with pockets of both seller and buyer advantages, depending on the price point and condition of the property. Homes under $400K and in the luxury category still have strong buyer interest. However, buyers in the mid-range may have more options available as inventory picks up.

- What About Interest Rates?

As of now, mortgage rates remain relatively stable, hovering just under 7%. Buyers are still navigating these rates with a cautious but eager attitude. For sellers, if your home is priced right, you’re still likely to see action. Buyers, meanwhile, are also starting to adapt to the rates, understanding that they may be here to stay for the time being.

Community Events – Exciting Happenings Around Kitsap County

Kitsap County is always buzzing with exciting events and opportunities to get involved. Here are a few events that are sure to make this January and February memorable:

1. McCloud’s Grill House Coupon – Treat Yourself

- We’re kicking off the month with a fantastic deal just for you! McCloud’s Grill House in Bremerton is offering $8.00 off any meal when you spend $14.99 or more. This offer is valid for the entire month of February, so you’ve got plenty of time to treat yourself to a delicious meal at one of Bremerton’s top dining spots. Whether you're craving a fresh seafood dish or a juicy steak, McCloud’s is the perfect place for a night out. Don’t forget to show this coupon when paying your bill! Be sure to scan the QR Code in the flyer below to access your coupon!

2. Winter Clothing Drive – Give Back to the Community

- John L. Scott is proud to be hosting a Winter Clothing Drive this February. It’s an amazing opportunity to give back to our community and help those in need. Donations of new or gently used winter clothing, including coats, scarves, gloves, hats, and blankets, will be accepted throughout the month. You can drop off your donations at any John L. Scott location in Kitsap County, including Silverdale, Poulsbo, and Port Orchard. Your generosity can help keep our neighbors warm during the chilly months ahead.

3. Gym Memberships – Jump Start Your New Year Fitness Goals

- New Year’s resolutions may have already been made (or perhaps forgotten), but it’s never too late to jump-start your fitness journey! Kitsap County is home to a variety of gyms and fitness centers that cater to all kinds of workout styles. Whether you're into high-intensity interval training, yoga, or lifting heavy weights, there’s a gym for you. Here are a few spots to check out:

- Bremerton YMCA: A community hub with state-of-the-art equipment, classes, and a heated pool.

- Puget Sound CrossFit: A great spot for those looking to challenge themselves with a CrossFit program.

- Silverdale Fitness: An all-inclusive gym with a welcoming environment, perfect for individuals at any fitness level.

- Kitsap Athletic Club: Offers group fitness classes and personalized training for those serious about their health and fitness.

Many of these gyms are offering New Year’s specials, so it’s the perfect time to invest in your health and start your fitness journey. Don’t let those resolutions fade away—take action now!

Looking Ahead – Real Estate Market in 2025

As we look ahead to the rest of 2025, the real estate market in Kitsap is poised for growth. Despite the slight dip in the winter market, the upcoming spring season is expected to bring more homes to market, as sellers prepare for a busy summer selling season. Buyers, especially in the mid-range and luxury segments, will find that there are still opportunities to get in on great properties, but they’ll need to be prepared for some competition.

For sellers, now is a great time to get your home in top shape, with a fresh start to the year. Staging your home, getting a pre-listing inspection, and ensuring your home is ready for showings can help maximize your home’s appeal and price.

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 market trends, how to list your home, or want tips on making your next big move, I’m here to help! Don’t hesitate to reach out. If you’re looking for more detailed market information or personalized advice, feel free to give me a call or send an email.

If you're thinking about making a move in 2025 or simply need guidance on navigating the real estate landscape, I’m here to guide you every step of the way. Let’s get you set up for success this year!

Thank you for reading this month's Kitsap Housing Update.

Have any questions? Want to know more about the Kitsap market, or ready to make a move? Don’t wait—reach out today and let’s chat!