Kitsap County Stats – April 2012

The chart above provides a graphic of the absorption rate based on closed sales overall for Kitsap County. I mention overall because there are at least 11 unique markets within Kitsap County (location, view, waterfront, size etc.) so you’ll need to refine these stats based upon your specific focus (which can be done).

This chart displays absorption rate for Kitsap County for the past 15 months based on pended sales (purchase and sale agreement signed by buyer and seller but not funded and recorded (sold)). Notice the number of months is less than that for solds. Why…it’s because some percentage of pending transactions never close for any number of reasons. What makes this important is the failure rate varies and it’s too labor-intensive to track each pending sale through sale. By the way, some properties go through two, three or even four separate transactions before a sale is ever finalized.

Here we have the chart showing Kitsap County’s active inventory over the pending sales over the closed sales. Several points: the decreased inventory which provides leverage to sellers; and the increasing void between pending sales and solds which I previously addressed when talking about absorption rates.

Remember, these are overall numbers which must be refined to your location or property type when completing due diligence.

One final note, look at the numbers but base your action on the trends.