Life on Bainbridge | August 2019
We’ve entered the last full month of the season and the time is now to seize the sunshine! Whether you’re interested in relaxing with a movie night or prefer a day of adventure—the island offers a little bit of everything!
All Month Long | Music & Movies in the Park
Indulge in an evening of fun with live music and movies! Sounds of summer can be heard through August 14th and select movies will be shown weekly through September 6th.
August 16th | Cabernet Release Party
Fletcher Bay Winery is preparing to release their 2017 Cabernet! Enjoy a smooth finish comes from grapes sourced by Washington’s Red Mountain.
August 17th | Ten Minute Play Fest
The Island Theater presents the 8th Annual Play Fest, a three-day festival of live performances. Selected from over 60 submissions, enjoy the best short plays in the county at Bainbridge Performing Arts.
August 17th & 18th | Run Bainbridge
Celebrate the beauty of Bainbridge with two running events—an endurance run and a 100 mile relay designed for teams big and small.
August 24th | Dusty 45s at Bloedel Reserve
The Dusty 45s will be playing a variety of music to help you dance the night away, from rock and R&B to honky-tonk and jazz.
August 25th | Afternoon on the Trails
Summer is the perfect time of year to get outside and soak in some sunshine. Enjoy a day at Islandwood and the opportunity for their Naturalist Panel to identify your unknown plants.
We’ve reached the peak of summer and I’m pleased to present a mid-year checkpoint with market trends from the second quarter of 2019.
Bainbridge Island saw increased activity, with more home sales and higher sales prices than we saw in the first quarter. The average median sales price April through June was just below $1 million, coming in at $979,000. Despite some retracement in previous quarters this figure has continued to see growth in the second quarter throughout the last two years, proving that our market thrives during the warmer months each year.
The condition of the market has shifted slightly from the balanced state we saw in the beginning of the year. Inventory has dropped to two months causing the market to favor sellers—and making it a wonderful time to sell!
Interest rates are on a downward trajectory, which is encouraging more buyers to get out there and find their dream home! Furthermore, the federal reserve just announced a quarter-point reduction in rates. This is the first cut they’ve made since our country’s recession in 2008 and is sure to benefit buyers at all price points.
Increased market activity and lowered interest rates create the perfect climate to make a move in the market. I’d be happy to sit with you today and answer any questions you have about buying or selling. Please don’t hesitate to contact me.
Waterfront living continues to be one of the most coveted lifestyles available. We’re fortunate to live in a region that affords ample opportunity with life at the water’s edge, especially thanks to the islands that compose much of the Puget Sound.
Realogics Sotheby’s International Realty (RSIR) has released its annual Waterfront Report, which includes detailed statistics about the lifestyle and recent transactions in 15 counties of Western Washington. As a highly waterfront-focused community on Bainbridge Island, this is critical information for the state of the housing market on the island. The Waterfront Report analyzed 15 months of waterfront sales, from January 2018 to March 2019, to create a comprehensive assessment of waterfront real estate transactions.
During the 15 months analyzed, there were 95 waterfront homes sales on Bainbridge Island. Of the 95 residential homes sold during these months, 39 of them were nestled along the city view, or eastern, shoreline, and only four of these transactions were made between March and July of 2018.
There were 63 waterfront home sales that occurred around the rest of the island. Most of these transactions were made in the peak month of May and eight of the waterfront sales on this part of the Island were condominium sales. RSIR listed 16 waterfront sales on Bainbridge Island during the time assessed.
Waterfront living continues to be a sought-after lifestyle and recent sales prove the interest of current buyers. If you’d like to explore opportunity at the water’s edge and learn about the offerings of various regions around the sound, I encourage you to dive into the report at RSIRWaterfront.com or contact me today.
Life on Bainbridge | Fourth of July Feature
The Grand Ol’ Fourth is entering it’s 52nd Annual year of celebration! This year will be a little different, as the usual fireworks display over Eagle Harbor isn’t on the schedule, but there are still plenty of fun happenings for you and yours!
Traditional Pancake Breakfast | 7am – 11am
Start the day with pancakes, scrambled eggs and ham paired with coffee, tea and orange juice. This delicious breakfast benefits the Bainbridge High Boosters Club.
Street Fair | 9am – 5pm
This year’s street fair will showcase over 100 booths featuring arts, crafts, food and more. Explore the offerings all day long in Downtown Bainbridge.
Ranger and the Re-Arrangers | 10:30am – 11:30am
Join in the fun while this gypsy jazz band celebrates the day with snappy rhythms and beats that are sure to make you move. Can’t make it at 10:30? Check out some of the other performers!
Mile Long Hometown Parade | 1pm
Feast your eyes on floats, bands, music, animals, military units and more! This parade has a little bit of everything and will march around town starting at 1pm.
Fletcher Bay Winery’s Rooftop Bash | 6pm to 11pm
End the day with sweeping sound views, dinner, music and friends above Eagle Harbor. You won’t want to miss the view!
Life on Bainbridge | June 2019
June is here and with it comes a plethora of outside activities for all. From the Classic Car Cruise In to Bloedel Reserve’s Summer Concert Series, there is truly something for everyone.
June 14th & 15th| BIMA Bash
Enjoy a weekend of fun that benefits our museum. Friday offers a silent auction and party and Saturday includes a live auction with dinner.
June 16th | Father’s Day at KiDiMu
KiDiMu is celebrating the day with free admission for Dads and Grandpas. Enjoy hands-on exhibits and a keepsake trophy craft.
June 18th | Paint Your Pet
Fletcher Bay Winery invites you to an evening of fun with Corks and Canvas! Bring a headshot of your furry friend and enjoy a glass of wine while creating a masterpiece!
June 22nd | Summer Concert with Jherek Bischoff
Bloedel Reserve is kicking off their summer concert series with Jherek Bischoff. As a Los Angeles native, Bischoff specialized in blending rock and classical music.
June 23rd | The Great Ferry Race
Register today for the big race! Walk on the ferry in Seattle and run from the car dock around Bainbridge Island in this half marathon. Starting from the island? Select Bainbridge Island resident when you register!
June 25th | Classic Car Cruise In
The second classic cruise in of the season is nearly here! Peruse cool cars at this event dedicated to helping local children. Food and beverages will be available for purchase, and profits will benefit the Helpline House.
Life on Bainbridge | May 2019
We’re one month closer to Summer and the island is heating up with events for all! From a fundraiser for Kitsap Humane to a calligraphy class, the island is sure to have something you’ll enjoy.
May 18th| Fletcher Bay Winery’s Pirate Party
Celebrate the release of the Pirate Red Wine with live music, food, prizes and more. This event is sure to be a treasure!
May 19th | Sunday FUNDday
Eleven Winery is partnering with Kitsap Human Society for a day dedicated to helping local pets! 100% of tasting fees and 10% of bottle purchases will be donated.
May 19th | Eye on Artist: Patty Grazini
Bainbridge Island Museum of Art welcomes Patti Grazini to share her creative process in a lecture followed by light food and drinks.
May 28th | Bainbridge Island Classic Car Cruise In
Join in the fun of the first classic car cruise in of the season! Open to the public, feast your eyes on some stellar rides while enjoying a hot dog or hamburger.
May 30th | The Painted Word
Eagle Harbor Book Company invites you for an evening with author and calligrapher Caitlin Dundon to learn mixed media lettering techniques.
Life on Bainbridge | April 2019
April has arrived and the island is buzzing with new life. Whether you’d like to delight in local goods at the farmers market or want to indulge in a dinner with the winemaker, there is surely something for you to enjoy on the island this month.
April 6th (recurring) | Bainbridge Island Farmers Market
Island life is springing back into action! Enjoy the local farmers market every Saturday through December.
April 14th | Teddy Bear and T-Rex Tea Party
Enjoy a teatime with friends alike at The Island School. Stories will be read while guests delight in tea and treats. This free event is open to all ages.
April 18th | Dinner with the Winemaker
Join the winemaker at Eleven Winery for a special night of flavors with a wine tasting and dinner.
April 20th | mEGGa Hunt
Celebrate the season with an egg hunt at Battle Point Park. Little ones are invited to participate in a hunt featuring over 7,000 eggs, and everyone is sure to enjoy the live music, games, face painting and more.
April 23rd | smARTfilms: Art & Science
Bainbridge Island Art Museum welcomes the work of Yayoi Kusama to their series that celebrates art and science
April 28th | Afternoon on the Trails
Celebrate Earth Day with IslandWood! This day of fun allows you the opportunity to explore a stunning setting at your own pace.
Realogics Sotheby’s International Realty recently released the 2018/2019 Market Report, which features a year-end review of market fundamentals in our region, an in-depth look at eight key counties and 31 communities around the Sound, and a look ahead and what to expect for the rest of 2019. Below I’ve outlined data for Kitsap County and the Bainbridge Island and Poulsbo markets for you to consider as you compile your real estate goals for the coming year. I offer these thoughts, as a conversation starter so we may discuss how these trends may affect the homes in your neighborhood.
Though the number of residential sales on a quarterly basis was on a steady rise beginning in the third quarter of 2011, that figure began to flatline in the final quarter of 2017 and declined throughout 2018. In all, there were 7.4 percent fewer residential sales in Kitsap County than there were in the previous year.
Home sales in Kitsap County are nearly all residential, with condominium sales representing just 5.3 percent of the total sales in 2018.
With the exception of the first quarter of the year, when the median cumulative days on market fell to 19—compared to nearly one month in the first quarter of 2017—market times on a quarterly basis held steady compared to those of 2016 and 2017.
Prices and market conditions on Bainbridge Island and in Poulsbo are described more in-depth below. Among the smaller communities in Kitsap County, residential prices averaged the following:
- Kingston | 175 Homes Sold | $451,000 Average Sales Price
- Seabeck | 83 Homes Sold | $461,000 Average Sales Price
- Hansville | 64 Homes Sold | $471,000 Average Sales Price
The median residential sales price in Kitsap County for 2018 was $345,000, with a compound annual growth rate of 9.2 percent from 2014 through 2018.
In retrospect, the 17.8 percent increase in home sales on Bainbridge Island for 2017 appears to have been a reflection of pulled-forward demand, as the number of sales in 2018 declined by 8.7 percent. This figure, however, was greater than figures from 2015 and 2016, by 5.0 percent and 7.6 percent, respectively.
Compared to 2017 data, there were fewer condominium sales on Bainbridge Island in 2018, contracting to a 21.5 percent proportion of overall sales. On a quarterly basis, the median cumulative days on market hovered around one month, before pushing up to 39 days in the final quarter of 2018.
On a community basis, residential selling prices averaged the following:
- Wing Point | 24 Homes Sold | $1.08 Million Average Sales Price
- Port Madison | 20 Homes Sold | $1.1 Million Average Sales Price
- Fletcher Bay and Crystal Springs | 22 Homes Sold | $1.12 Million Average Sales Price
- Battle Point | 19 Homes Sold | $1.46 Million Average Sales Price
The median residential price on Bainbridge Island increased at a compound annual growth rate of an even ten percent from 2014 through 2018. A modest decline of less than eight percent is forecast for 2019.
Poulsbo is primarily a retirement and second-home destination, which has contributed to a relatively steady pattern in transactions since 2014. While there were fewer homes sold year-over-year in 2017 and 2018, both figures were only in the single digits, at 7.7 percent and 6.3 percent, respectively.
Conditions in Poulsbo are similar to those in Anacortes, with Poulsbo serving as a primarily residential market. Residential homes comprised over 96 percent of all homes sold in 2018.
With a median cumulative days on market of 25, the market time in the fourth quarter of 2018 did not exceed that of 2015 (which was the case in many of the Puget Sound communities surveyed). However, similarly to Burien, that ceiling comes with longer market times in the second and third quarters, respectively at 31 and 21 days in 2018—sellers and their real estate agents should weigh this trend carefully.
Poulsbo’s home-selling statistics include those of several distinctive small communities between Liberty Bay and Hood Canal. Selling prices among these communities averaged the following:
- Finn Hill | 38 Homes Sold | $457,000 Average Sales Price
- Lofall | 21 Homes Sold | $556,000 Average Sales Price
- Scandia | 7 Homes Sold | $724,000 Average Sales Price
The median residential price in Poulsbo advanced at a compound annual growth rate of 10.7 percent from 2014 through 2018. A modest retracement of 8.5 percent is expected for 2019.
For additional market trends including a 2018 retrospective and 2019 look ahead, read the full report below or contact me to discuss the latest trends.
Life on Bainbridge | March 2019
Spring is beginning to show itself on Bainbridge Island. With more and more sunny days, events around the Island take to the great outdoors. Read on for environmental celebrations and meetings, a baby shower for wildlife and more!
March 7th | ‘Chasing Coral’ at the Bainbridge Public Library
Learn about the complex beauty of coral reefs during a public screening of ‘Chasing Coral’ at the Bainbridge Library.
March 9th | Spring Open House and Wildlife Baby Shower
Join the West Sound Wildlife Shelter for a free educational event where the staff will show you how the shelter works and teach about baby wildlife.
March 10th| Bainbridge Environmental Conference
The annual Environmental Conference on Bainbridge will discuss protecting the waters of the Puget Sound. Learn about water systems, resource use, and stewardship opportunities.
March 19th| Mysteries of the Moss Garden Walk
Join the Bloedel Reserve in an enchanting look at the timeless beauty of moss in the forest.
March 22nd | Community Swing Dance
One night only, the community will come together to dance the night away at the BHS Commons. But don’t worry, Sheila Phillips will be there to lead lessons.
March 30th | World Water Day at Brightwater
At the Brightwater Center in Woodinville, Bainbridge Island will join King County for a World Water Day festival. You’ll be able to tour the treatment plant and learn about water.
Life on Bainbridge | February 2019
Winter is well under way and varying events around the island are celebrating the season! From a Valentine’s Day Concert to the Northwest Flower and Garden Festival, here is a list of local happenings for the month.
February 8th – 17th | Cupid’s Walk
Bloedel Reserve is celebrating Valentine’s Day with a walk that highlights the love story that it was build on. Discover a true expression of love.
February 9th | Wine on the Rock: Wine & Chocolate
Enjoy a special edition of this recurring event! Five Bainbridge Island wineries will be participating with wine and chocolate pairings that are sure to satisfy your taste buds!
February 14th | Grace Love: A Special Valentine’s Day Concert
Bainbridge Island Museum of Art is preparing for a romantic evening with sweet treats and sweeter sounds! Tickets include a glass of bubbly and additional libations will be available for purchase.
February 20th – 24th | Northwest Flower & Garden Festival
Experts and enthusiasts from the region will be gathering for this annual event. Marvel in show gardens and shop the market to get your garden ready for the year ahead!
February 22nd | Meet Me at the Movies — Winter 2019
Delight in clips from a variety of films that are followed by discussion at this unique experience. Guests are invited to enjoy this free event on a first-come, first-served basis.
February 28th | Monthly BARN Bakealong: Graham Crackers
The Bainbridge Artisan Resource Network is dedicating their February bakealong to a crunchy treat! Each participant is invited to bring one guest to help bake up some fun.