Brian Wilson - 360.689.2466 | Jana Salmans - 360.509.9684

May 2013 Home Sales & Trends in Indianola and Suquamish

graph of May 2013 Home Sales Data for Indianola & Suquamish

May 2013 Home Sales Data for Indianola & Suquamish

{If you were sent to this page and it happens to be an older post, you can get the most recent post for these areas here }

There were 8 homes Sold in the combined areas of Indianola and Suquamish during the Month of May which is above the 5 homes Sold during April.  Looking ahead we project that home sales will continue to increase and remain at high levels for the next couple of months.  It appears we will have about 12 homes that will be sold in June and between 8-10 in July.

The Average selling price dropped dramatically in May from approximately $295,200 during April, down to about $182,000 during May.  The Median selling price also dropped from $275,000 during April to $145,500 during May.  These large swings in prices can be expected given the small sample sizes, where small changes in the composition of the sales leads to large swings in prices.

It’s likely the biggest factor contributing to the large price swings from April to May, was the large proportion of distressed sales which comprised the May data.  During April there were 0% distressed sales, however; during May distressed sales (REO’s and Short Sales) jumped to 50% of the total sales.  Again, it is important to keep this in perspective and recognize that this 50% quantity was actually only 4 distressed home sales!

Looking at the currently Pending Sales data, it appears that distressed home sales will continue to be a significant proportion of the sales in these areas for the coming couple of months.  The composition of the distressed sales however, is shifting from foreclosures to Short Sales and there are increasing numbers of higher end homes in the mix.  These factors will contribute to increasing average and median selling prices which we estimate will jump to over $270,000 and $200,000 respectively during the month of June.

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Brian Wilson, Broker  cell: 360-689-2466  -and-
Jana Salmans, Managing Broker cell: 360-509-9684

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19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

 

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