Though Seattle and the Eastside both reported slight decreases in the average median sales price from the second to third quarter of 2018, home prices on Bainbridge Island increased on a quarterly basis, from $865,000 in the second quarter of 2018 to $912,000 in the third quarter. This 5.4% quarter-by-quarter increase is larger than the 2.3% year-over-year gain, and may be attributed to a shortage of supply. While other regions inched closer to a more neutral market, Bainbridge Island averaged just 2 months of inventory, down from the previous quarter but steady from the third quarter of 2017, which also averaged 2 months.
After descending to a low point of 26 average days on market in the previous quarter, the average days on market on Bainbridge Island climbed back up to 43 days in the third quarter of this year, a figure that is relatively steady compared to this same time last year and reflects seasonal trends typically experienced on the Island.
Download the Bainbridge Island Report Here or Dive into Quarterly Reports from Around the Sound.