Bainbridge Island Real Estate Market Report: October 2021

INVENTORY NUMBERS ARE SEASONALLY NORMAL

With the perpetual forecast of rain, shorter days and the drop in housing inventory that is typical for this time of year, it would appear that we are finding some sense of normalcy.

That said, the damage from this year’s frenetic market has been done: the average sale price on the island (through October) is up an astounding 18.7% YOY and the median price is up 23.8% YOY. After considering the significant increases in home prices seen since 2019, a home priced at a million dollars in 2019 would now sell for around $1,375,000, and a two million dollar home back then would now sell for about $2,750,000.

Just like groceries, entertainment and travel, the new normal means everything is just much more expensive than it used to be.

For all the metrics and analysis on last month’s sales, please check out my Bainbridge Market Report below.

Thanks,

Jason

P.S. Sharing the love of a recent client.

"Jason is a listener and his advice was always on-point; he always respected my point of view and shared his perspective in a real conversation and every meeting bore fruit. His data-based points were invaluable to balance my sentiments, his team was incredible and they worked to show off what I loved about my house. Jason is a real person with a real life and a good sense of humor, I just wish my late husband could have met him."
-- Liisa Peterson