Updates on Current Market Conditions, Bainbridge Island
as of August 27, 2010
Year to Date, the Syvertsen/Mortell Business Partnership has closed 23 (Covering 25 Sides) properties.
There are now 253 residential units on the market, up from 232 on June 8th.
RESIDENTIAL
Today there are 253 residential units on the market. As of August 9th, 2009, there were 264 residential units on the market.
Values have depreciated by approximately 6% to 8% for 2010
SOLD HOMES (Closed Sales):
2010 to date: 177 sold Sold for Same Period 2009: 122 respresenting a 68% increase in sales over 2009.
There are 42 pending home sales
2009 212 sold giving us an 8.7% increase in residenital sales over 2008, while values depreciated 13%.
2008: 186 sold
2007: 331 sold
2006: 350 sold
2005: 442 sold
2004: 467 sold
2003: 453 sold
Closed Sales Since January 1st, 2010
100K to 249K 6
250K to 400K: 29
401K to 500K: 29
501K to 600K: 34
601K to 700K: 22
701K to 800K: 22
801K to 900K: 14
901K to 1 Mil: 3
1.0 to 1.5 Mil: 15
1.5 and Above: 4
Seven Day Market Watch from the Multiple Listing Service:
CONDOMINIUMS
To Date, we have seen 42 (5 of which were sold by the Syvertsen/Mortell Partnership) condos close. 55 sold in 2009; an extremely difficult year, with 44 sold for the same period in 2008: 133 sales in 2007 and 155 sales in 2006.
We have only 95 condos on the market, which is down from the peak of 114 in 2009
The Big Condo news is that Madrone Village has seen seven sales since last July, including all of the Penthouses, leaving only 6 new luxury condos on the market.