Real Estate Market on Bainbridge Island Off to Robust Start

Puget Sound Ferry at Eagle Harbor, Bainbridge Island
Bainbridge Island has always been an attractive market and 2014 is off to a strong start.

What a difference a few years make!

If I had written this blog back in 2011, I would have been emphasizing the wonderfully low interest rates that made home buying affordable and ignoring the amount of homes that were available.

Today, the interest rates are still historically low, but inventory of available homes has dropped, creating a lack of supply and a huge demand for homes.

Pent-up demand, low interest rates and just a general feeling of consumer confidence has made the first half of 2014 the year to get into the real estate market. Whether buying or selling, the market is robust with multiple offers in many price points.

On Bainbridge Island, with an average home sale price of $654,000 over the past six months, homes that are priced at or below $650,000 price are frequently sold in the first few days on the market, many with competing offers.

The trick to selling a home in this market is to get the home looking absolutely perfect and priced absolutely perfectly on day one! When everything is lined up perfectly and a home goes on the market, especially at or below the median price of a sold home in a community, chances are extremely good that buyers will be waiting to buy the home.

Bainbridge Island is just waiting for homes to sell to future buyers. Now is an excellent time to get ready for that next move.