A snapshot of the Bainbridge Island real estate market: The number of active listings on Bainbridge Island (67) in February rose 14% from January and is about 26% lower than a year ago. Seasonal inventory is now increasing, but this very low Bainbridge housing inventory is still less than a third of the inventory of 6 years ago. The 3 month moving average of closed sales is 8% lower than it was a year ago and dropped 3% from January. The 3 month moving average of pending sales rose 7% compared to January but fell 14% from a year ago. The median closed sale price in February was $560,000 (a big jump), 10% higher than in January and an incredible 35% higher than it was a year ago. Month to month prices can vary substantially. The more stable 3 month moving average of the median closed sale price was $527,883, up 2% from January and 21% higher than in February of last year. So far it looks like the Bainbridge market is a little weaker than last year. It also looks like prices are rising in reaction to the low inventory.
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