Waterfront Values:
With regard to waterfront County-wide, we again saw an average sale price decline, but dramatically less so than previously (-2.15% vs 2009 –see attached graph – Kitsap County Waterfront Sales). This results in waterfront’s overall value decline at almost 35% from its peak in 2008 to now, almost 33.5% of which came in 2009.
There were, at the height of the selling season, over 250 waterfront homes on the market.
On a more positive note, there have been 138 waterfront homes sold this year, with another 10+ under contract. This exceeds the 99 and 121 sold in the preceding two years, respectively.
