Helping people buy and sell homes in the Pacific Northwest since 1972, Coldwell Banker Bain is an undisputed market leader, posting over $8 billion in sales in 2021. With 34 offices and more than 1,200 brokers in Washington and Oregon, plus a global reach that extends to over 100,000 brokers in 41 countries, we’re not only one of the largest Coldwell Banker affiliates in the world, we’re also the most accomplished real estate company in the Northwest.
Our commitment to knowledge, expertise and market insights consistently undergirds our reputation for excellence and service. An emphasis on global access in the luxury realm, combined with the power, reach and recognition of the Coldwell Banker brand, allows us to outsell and outperform our rivals, as we elevate the standard for marketing premier properties in the Puget Sound area and the Pacific Northwest.
As important to us as business success—we also provide services in property management, commercial real estate, real estate investment and relocation management—is the understanding that real estate is more than just a transaction; it’s a key part of building safe, happy and prosperous lives for our clients, our brokers and their families.
JOHN DEELY
Executive Vice President of Operations
“ Early in the quarter, we gradually came off the fevered pitch of a market that had enjoyed tremendous velocity for several years. The number of listings began to slowly increase, which decreased the number of multiple offers from buyers though it remained a seller’s market with less than two months’ inventory in most regions. Gradually, sellers who were on the fence about placing their home on the market, mainly because they had nowhere to go, began to see potential thereby providing more inventory for buyers to look at. And while the rate of price increases also slowed down, we did not see the median price drop significantly. Smart sellers, especially those aided by a CB Bain broker, closely watched the market and were pricing competitively to get their property sold. We ended the quarter with signs of a more traditional market and one that is more favorable to buyers than it has been in a decade. Yet, with uncertainty over interest rate increases, some buyers are still holding off. Correct pricing remains critical. Sellers need to be hyper-local in developing their pricing strategy, based on what is happening in their local market now versus ‘what could have been’ earlier in the year.”
0 50 100 150 200 250 4 2022 Q3 CENTRAL SOUND MARKET REPORT central sound SINGLE FAMILY (SF), CONDO, WATERFRONT & LUXURY 17 22 18 15 19 16 29 17 20 18 35 20 Bainbridge Island Central Sound Bainbridge Island Bainbridge Island Bremerton Bremerton Bremerton Kingston Kingston Kingston Port Orchard Port Orchard Port Orchard Poulsbo & Finn Hill Poulsbo & Finn Hill Poulsbo & Finn Hill Seabeck Seabeck Seabeck Silverdale Silverdale Suquamish Suquamish Silverdale Suquamish Condos All Kitsap Condos All Kitsap Condos Area Waterfront Area Waterfront Area Luxury Area Luxury NUMBER OF SALES CLOSED BAINBRIDGE ISLAND | BREMERTON | KINGSTON | PORT ORCHARD POULSBO & FINN HILL | SEABECK | SILVERDALE | SUQUAMISH Waterfront (SF Only) Luxury ($2+M | SF+C) $600K$300K $900K $1.2M $1.5M $1.391M $540K $443K $650K $507K $583K $639K $510K $325K $461K $1.06M $1.398M MEDIAN SOLD PRICE AVERAGE DOM 212 132 179 100 233 36 40 12 140 8769 INVENTORY IN UNITS / 09.30.2022 TOTAL CENTRAL SOUND INVENTORY / 668 +113.4% 59 +227.8% 101 +40.3% 28 +100.0% 88 +225.9% 53 +65.6% 24 +60.0% 111 +136.2% 40 +25.0% 56 +107.4% 120 +200.0% 1,244 TOTAL AREA SALES CLOSED 9 +350.0%
TOTAL HOMES SOLD 1,244 1,561 -20.3%
MEDIAN SOLD PRICE $540K $504K +7.1%
AVERAGE DAYS ON MARKET 19 12 +58.3% SOLD/LIST PRICE% 98% 104% -5.8%
$540K
MEDIAN SOLD PRICE UP +7.% from 2021
TOTAL HOMES SOLD
-17.9%
MEDIAN SOLD PRICE $325K $347K -6.3%
AVERAGE DAYS ON MARKET
-28.6% SOLD/LIST PRICE%
-1.0%
$325K
MEDIAN SOLD PRICE DOWN -6.3% from 2021
2022 Q3 CENTRAL SOUND AREA MARKET REPORT 5 central sound TOTAL KITSAP COUNTY AREA CONDOS
Q3 2022 Q3 2021 CHANGE
Q3 2022 Q3 2021 CHANGE
69 84
18 14
100% 101%
2022 Q3
CHANGE
TOTAL HOMES SOLD 87 103 -15.5%
MEDIAN SOLD PRICE $1.06M $1.01M +5.0%
AVERAGE DAYS ON MARKET 35 14 +150.0% SOLD/LIST PRICE% 94% 103% -8.7%
$1.06M
MEDIAN SOLD PRICE UP +5.0% from 2021
TOTAL HOMES SOLD
-2.8%
MEDIAN SOLD PRICE $1.398M $1.46M -4.2%
AVERAGE DAYS ON MARKET 20 10 +100.0% SOLD/LIST PRICE%
-6.6%
$1.39M
MEDIAN SOLD PRICE DOWN -4.2% from 2021
6 2022 Q3 CENTRAL SOUND MARKET REPORT central sound WATERFRONT
LUXURY
Q3
2021
Q3 2022 Q3 2021 CHANGE
140 144
99% 106%
Q3 2022 Q3 2021 CHANGE
TOTAL HOMES SOLD 100 138 -27.5%
MEDIAN SOLD PRICE $1.39M $1.278M +8.8%
AVERAGE DAYS ON MARKET 15 10 +50.0% SOLD/LIST PRICE% 99% 107% -7.5%
$1.39M
MEDIAN SOLD PRICE UP +8.8% from 2021
2022 Q3
TOTAL HOMES SOLD 233
CHANGE
-29.8%
MEDIAN SOLD PRICE $443K $421K +5.2%
AVERAGE DAYS ON MARKET 18 13 +38.5% SOLD/LIST PRICE% 103% 105% -1.9%
$443K
MEDIAN SOLD PRICE UP +5.2% from 2021
2022 Q3 CENTRAL SOUND AREA MARKET REPORT 7
BREMERTON
BAINBRIDGE ISLAND
Q3
2021
332
TOTAL HOMES SOLD 36
-28.0%
MEDIAN SOLD PRICE $650K $714K -9.0%
AVERAGE DAYS ON MARKET 22 9 +144.4% SOLD/LIST PRICE% 95% 105% -9.5%
$650K
MEDIAN SOLD PRICE DOWN -9.0% from 2021
TOTAL HOMES SOLD
+7.2%
MEDIAN SOLD PRICE $507K $461K +10.0%
AVERAGE DAYS ON MARKET
+88.9% SOLD/LIST PRICE%
-5.8%
$507K
MEDIAN SOLD PRICE UP +10.0% from 2021
8 2022 Q3 CENTRAL SOUND MARKET REPORT central sound KINGSTON
PORT
ORCHARD
Q3 2022 Q3 2021 CHANGE
50
Q3 2022 Q3 2021 CHANGE
179 167
17 9
98% 104%
TOTAL HOMES SOLD
MEDIAN SOLD PRICE $639K
AVERAGE DAYS ON MARKET
+28.2%
+6.5%
+100.0% SOLD/LIST PRICE%
-5.7%
$639K
MEDIAN SOLD PRICE UP +6.5% from 2021
TOTAL HOMES
MEDIAN SOLD PRICE
AVERAGE DAYS ON MARKET
PRICE%
$583K
MEDIAN SOLD PRICE UP +22.7% from
2022 Q3 CENTRAL SOUND AREA MARKET REPORT 9
SEABECK
POULSBO/FINN
HILL
Q3 2022 Q3 2021 CHANGE
132 103
$600K
16 8
99% 105%
2021 Q3 2022 Q3 2021 CHANGE
SOLD 40 51 -21.6%
$583K $475K +22.7%
29 7 +314.3% SOLD/LIST
96% 101% -5.0%
TOTAL HOMES SOLD
-27.7%
MEDIAN SOLD PRICE $510K $475K +7.4%
AVERAGE DAYS ON MARKET 20 12 +66.7% SOLD/LIST PRICE% 98% 104% -5.8%
$510K
MEDIAN SOLD PRICE UP +7.4% from 2021
TOTAL HOMES
-50.0%
MEDIAN SOLD PRICE $492K $442K +11.3%
AVERAGE DAYS ON MARKET
+41.7% SOLD/LIST PRICE%
-8.5%
$461K
MEDIAN SOLD PRICE DOWN -18.8% from 2021
10 2022 Q3 CENTRAL SOUND MARKET REPORT central sound SILVERDALE SUQUAMISH
Q3 2022 Q3 2021 CHANGE
212 291
Q3 2022 Q3 2021 CHANGE
SOLD 12 24
17 12
97% 106%
*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.
