Market data from the fourth quarter of 2017 indicates that Bainbridge Island continues to attract buyers, as the number of homes sold was up slightly from Q4-2016 despite a sharp 32.9% inventory decrease. Fierce competition paired with a lack of inventory is driving up prices, as the median sales price rose 14.8% to $972,000.
Year-over-year average sales price comparisons on Bainbridge Island outline home value appreciation gains ranging from 1.55% to over 25%.
Though the Island saw a rare inventory increase earlier in 2017, it continued a downward trend in the fourth quarter at 1.6 months, with homes spending an average of just 47 days on the market. While down slightly compared to Q3-2017, the average price per square foot on Bainbridge Island in Q4-2017 was $342.60., a 12.7% increase compared to this same time last year.
Download the Bainbridge Island report here or dive into quarterly reports from around the Sound.