Bainbridge Island Real Estate Market Report: March 2020
HOME IS WHERE THE HEART IS
Home means comfort – a haven for you and yours. Now, more than perhaps any time in the last hundred years, homes are our most essential place.
My wife Mairead and I moved into our new home on Bainbridge last June. At first, it didn't feel like a perfect fit until returning from an extended family vacation in December. After the past couple of months, I had truly fallen in love with where we live. Living in a too-small home for far too long gave us a whole new appreciation for the relationship between a floorplan and family dynamics. We're doing as well as can be expected with three young ones while sheltering-in-place. If you have kids, you probably can relate.
And just because we are social distancing, that doesn’t mean we have to be distant. I would love to hear from you and how you're coping and adjusting to our emerging new normal.
To help you keep up to date on what’s happening with local real estate market activity, I’ve created a weekly update that keeps a thumb on the pulse of our rapidly changing market activity. You can find this page refreshed every Friday afternoon. Specifically, you’ll find the number of new listings, new pending sales, and recently closed sales within the last seven days.
Governor Inslee has deemed real estate an essential service but in a limited capacity. The mortgage market has disrupted some borrowers' plans while others haven’t been impacted. The legal team that serves Windermere Real Estate, Demco Law Firm, has been busy putting together new forms for us to use as tools in a marketplace to address new circumstances to protect everyone.
Send me an email if you have any questions about COVD-19 and the real estate market.
Real estate sales activity started slowing in early March as health concerns increased. But listings/pendings/closings were still occurring at a reasonable pace for the rest of the month; the 2020 housing market was heating up exceptionally well before COVID-19.
However, this last week the new listing activity dropped significantly (down 50% week over week). I believe this is the ripple effect of the Stay Home Stay Healthy proclamation effective March 25th, two weeks ago. One issue impacting home sales is the availability of contractors to assist home sellers in preparing their homes to list for sale. This affected one of my sellers who had hoped to list their home this last week. We are delayed as a result.
Check out the new 99-second infographic below for all the stats and analysis on March's housing market activity on Bainbridge.
From our home to yours,
P.S. Windermere is the only major real estate company with an economist on staff, and here is Mattew Gardner's three-minute video on what he sees as the current impact the virus is having in the mortgage market.
this bainbridge island real estate market report is available for monthly delivery
real estate Sales on Bainbridge Island in march 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 March.
If you would like, I can sign you up for an auto search so you can follow a specific niche of the market.
My goal is to serve your needs; I will move mountains to ensure you meet your objectives, listen carefully so I can focus on your motivations, and provide you with the insight you need to make strategic decisions. I'm here to get your job done, so please let me know what I can do for you or those you know.