Kitsap median home prices reach $600K even as inventory rises
The median residential home price in Kitsap County jumped from $550,000 to $600,000 in June, a record-high price for homebuyers who are increasingly finding it difficult to afford a home, according to data from Northwest Multiple Listing Service.
Meanwhile, median home prices in Washington state dropped slightly from $660,000 to $650,000.
Active listings rose from 288 listings in May to 606 listings in June, an inventory increase of 110%. The market has 1.28 months of housing inventory, compared with just 0.54 months in June of last year.
But Frank Wilson, Kitsap regional manager at John L. Scott Real Estate, said that a typical housing market three years ago would have had between 1,300 and 1,500 active listings each month, rather than under 1,000. "We need to put it all in perspective," he said.
https://www.msn.com/en-us/money/realestate/kitsap-median-home-prices-reach-600k-even-as-inventory-rises/ar-AAZqv2E
Perspective, if you don't have the money you're SOL.
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