The first quarter stats of 2018 are in and Bainbridge Island continues to attract buyers, as the number of homes sold was up just over 28% from Q1-2017 despite a sharp 60.7% inventory decrease. Fierce competition and a lack of inventory are driving up prices, as the median sales price rose 20.1% to %1,057,000. Though the Island saw a rare inventory increase in early 2017, it continued a downward trend in the first quarter of 2018 at 1.6 months, with homes spending just 63 days on the market.
Though the average price per square foot dipped at the latter half of 2017, it increased 14.8% from Q1-2017 to Q1-2018 at $328.35 and $377, respectively.
