Bainbridge Island Real Estate Market Report: June 2020
FLASHBACK TO 2015
In 2018-2019, Bainbridge home sales saw a slowdown in multiple offers. The needle was moving more towards a balanced market of 4 to 6 months of supply. Buyers didn't always have to waive seller inspection contingencies to compete. Purchase decisions could be made with time and thoughtfulness. But June 2020 matched a record-low inventory with a meager 1.1 Months of Supply, tying the record low of June 2015.
The data is clear this month: This is still a seller's market.
The silver lining in COVID-19 for us is our shared human experience. We all are going through some kind of transition - a life shift of some sort. Many folks are making adjustments in their housing arrangements. Doing so successfully requires a great deal of preparation. One of my favorite quotes is from Abraham Lincoln, and it applies to our real estate market today: "Give me six hours to chop down a tree, and I will spend the first four sharpening the ax.”
P.S. Sharing the love from a past client:
Jason's ability to prepare articulate documents complemented his calm, steady approach to speaking with us as clients.
— Fran Moen
real estate Sales on Bainbridge Island in june 2020
Are you curious what a property sold for last year? Click the links below to view the sold listings in my Multiple Listing Service "Portal" and see sale prices for every property sold on Bainbridge Island in May.
If you would like, I can sign you up for an auto search so you can follow a specific niche of the market.
P.S. Windermere is the only major real estate company with an economist on staff, and here is Mattew Gardner's eight-minute video on what he sees as the current impact the virus is having on housing prices.
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