Kitsap County Market Stats January 2023
The Kitsap County Real Estate market has said goodbye to the pandemic-fueled, seller-benefitting, boom with bidding wars, low inventory, and escalating prices. Buyers now have some say in the transaction while working with the seller to purchase a home. We began to see signs that the market was cooling in the Spring of 2022 and by November with rates increasing to over 7%, there was almost a complete standstill in the market. Now, with rates sitting around 5-6%, we are starting to see movement in the market with both inventory increases and mortgage applications.