Community February 1, 2022

Enjoy a Fun Night Out in North Kitsap

If this winter weather is getting you down, shake things up with a night out in North Kitsap. From excellent food and drink options to live music and creative activities, there are many fun things to do here. Check out these unique suggestions below.

Enjoy Wine, Food, and Live Music at d’Vine Wines

A popular place for friends and loved ones, d’Vine Wines is a great spot for a night out in Kingston. Just steps away from the Kingston Ferry Terminal, you can easily stop in for a glass of wine or enjoy it with dinner. They have indoor and outdoor seating, a wonderful wine selection, and they frequently host live music. Check out their updated menu, which includes tasty small plates like bacon-wrapped dates and flatbreads, as well as entrees like butternut squash risotto and Thai green curry shrimp.

For Valentine’s Day, they are offering a romantic brunch either on Saturday, Feb. 12th or Sunday, Feb. 13th. Additionally, you and your Valentine can enjoy dinner and live jazz on Saturday, Feb. 12th. Reservations are highly recommended. Follow d’Vine Wines’ Facebook page for additional information and updates.

Go on a Ghost Walk in Port Gamble

For something totally different, learn about Port Gamble’s history of the paranormal with a guided tour led by local expert, Paranormal Pete (who has his own show). The next tour is on Saturday, Feb. 19th and there are other ghost tours scheduled as well. Tickets are $25 and the tour starts at 7:00PM at the Port Gamble Historic Museum. From there, you’ll tour some of the more active places in town, including the cemetery and the Walker-Ames House, which is the most haunted house in Washington state. Check out our video of the Walker Ames House, which we shot with Paranormal Pete last October.

Grab a Pint & Watch or Play a Game at Downpour Brewing

For a casual night of fun, head to Downpour Brewing, just four blocks up from Kingston’s Ferry Terminal. It’s a popular local spot where you can watch a game or play one of their many board games. They’re known for great beer, friendly staff, open mic nights, and food truck pop-ups. They have indoor seating as well as a covered, outdoor beer garden. You are also welcome to bring in food from other places to enjoy there with your beer. Follow Downpour’s Facebook page for updates and events.

Get Creative at Dancing Brush Studio

A visit to Dancing Brush Studio makes for a unique, artsy night out. Whether you consider yourself a creative person or not, we can all use time getting in touch with our creative side. Paint your own pottery with friends or a loved one either in their downtown Poulsbo studio or at home by purchasing one of their take-home kits. If you want to paint at the studio, call in advance to reserve your table: (360) 598-3800. From cappuccino mugs to gnomes, platters to wine glasses – there are so many interesting things you can paint. For ideas and details, check out Dancing Brush Studio’s Facebook page.

Listen to Live Music at the Manor House

There’s nothing like experiencing live music, and there are many shows coming up on Bainbridge Island, specifically on the south end in the Manor House at Pleasant Beach Village. This series features everything from Latin jazz to alternative rock, indie folk to classical music. Tickets range from $25 – $40. There’s a full-service bar and snacks available for purchase. The 1920’s Tudor-style Manor House is a beautiful place to explore and is near many delightful eateries and boutiques.

Watch a Movie at the Firehouse Theater

Kingston’s Firehouse Theater offers a unique movie-going experience. They have excellent movie options, popcorn with real melted butter, and staff members who introduce each movie with bits of trivia and news on upcoming events. It’s a welcoming, cozy place, and they even offer movies for just $6 on Wednesdays.

Want to have the theater all to yourself? Well, you actually can rent out this theater for your own private event! You can either rent the Back Stage theater for $99 or the Main Stage for $175 (both for 2 hours with a 50% non-refundable deposit). And, concessions are available for your private rental.

Upcoming events at the Firehouse include a free Superbowl event on Feb. 13th where you can watch the game on the big screen. On February 14th, they’re hosting a Valentine’s Day Movie and Trivia Night from 6:30 PM – 9:30 PM. To stay “in the know”, follow the Firehouse Theater’s Facebook page.

Community November 30, 2021

Our Community Involvement in 2021

Community involvement is one of our core values, so we thought we would share how our Windermere Kingston office has supported and invested in our wonderful community this year. By sharing this information, we hope it spreads awareness about these great events and nonprofits.

Local Events

In the spring, we helped with Community Kitchen, a free dinner provided by the Suquamish United Church of Christ. Since 2009, Suquamish UCC has been providing free meals to anyone in the community. They are now serving dinner almost every Wednesday of the year. On average, they serve more than 100 people at each meal. Different groups help prepare and serve meals and it was a pleasure to participate.

Every year, we love participating in Windermere’s Community Service Day. It’s a day when all Windermere offices across 10 states close in order for agents and staff to help local organizations in different ways. Collectively, we’ve logged over 1,000,000 community service hours so far.

This year, we volunteered to help Kingston’s Boy Scout Hall. For years, fundraising efforts have been underway, and this year we donated $4,800 to this restoration project. This past June, it was finally time to start renovating the Boy Scout Hall. Kingston North Kitsap Rotary Club stepped in to restore it.  On Community Service Day, we cleaned up the area around the Hall in Kola Kole Park. We also bought materials and built a woodshed. You can watch our video below to see a bit of what we were able to accomplish, as well as the work of our colleagues at our other local Windermere offices.

 

Another great event was our annual Shred Fest. It’s a free day where you can safely and securely shred old documents and recycle old electronics. It’s always fun to help people declutter and catch up with old clients and friends.

Donations

There are a variety of important organizations to support, and this year we focused our efforts on a handful of local nonprofits. We donated $1,500 to The Coffee Oasis. A nonprofit, faith-based organization, The Coffee Oasis empowers youth escaping violence, homelessness, and poverty. They provide mental health servicesjob training, and short and long-term housing options, which help hundreds of teenagers in Kitsap County, including right here in Kingston.

Another great program for youth is Kids in Concert. It’s a free, not-for-profit music education program for North Kitsap students ages 6 – 18. This after-school program provides instruments, music instruction, tutoring, snacks, and concert attire. They’re “creating compassionate citizens of the world through the healing and developmental power of music.” We were happy to donate $500 to Kids in Concert. In addition to monetary donations, you can support this important program by donating gently used instruments or offering to teach kids if you’re a musician who loves to do so.

There are many in need in our community, and a food drive is another way to give back. In Kitsap County, approximately one-third of adults are food insecure and over a third of local children are in need of free and reduced lunch. We donated $2,000 to ShareNet Food Bank, which provides North Kitsap with emergency food provision, rental assistance, and weekend food backpacks for students in need.

Speaking of food for local youth, we also donated $2,500 to Kingston Cares‘s Food4Kids program. Another important nonprofit, Kingston Cares works hard to address poverty issues in North Kitsap. In addition to their Food4Kids program, they provide our local severe weather shelter program, medical equipment lending, and community meals.

 

There are many different ways to support and invest in our community. We’re proud of what we’ve done so far through our office’s community involvement and our Windermere Foundation. A portion of every Windermere agent’s commission is donated to the Windermere Foundation, and we’re also part of the broader Windermere Foundation, which impacts communities across 10 states. Collectively we’ve raised over $41 million to provide shelter, food, children’s programs.

If you want to get more involved in our community, we hope this has given you some ideas. We should note that our Windermere Kingston agents also support different nonprofits on their own. So, this only reflects our office-wide community involvement.

Community October 21, 2021

5 of Kitsap’s New Eateries You Need to Try

In case you missed our social media coverage, we’ve been featuring great, local eateries that have opened during the pandemic. We wanted to highlight them all in one place so you can fully appreciate their unique stories. It was such a joy to chat with all of these local small business owners and we hope you try these delicious eateries.

Bigleaf Maple Bakery in Poulsbo

bigleaf-maple-bakery-poulsbo

Photos by Leo Phillips.

 

What do you get when you mix an archeologist and a choir teacher? Apparently, you can get amazing French pastries! Sarah and Wendi from Bigleaf Maple met three and a half years ago while working at Pane D’Amore on Bainbridge, and became “baking soulmates”.

“No matter where you think you’ll be, life puts you in different places,” they said of making radical career shifts, and then starting a new business during a pandemic. They started Bigleaf Maple in the winter of 2019, producing wholesale items in early 2020, like macarons for Bon Bon and fresh treats for the Poulsbo Farmers Market

The bakery started out in a rented commercial kitchen space. As their fan base grew, they offered items for sale via social media for delivery at the beginning of the pandemic. Eventually, they opened their storefront in the late spring of 2021. They both said they love being located in Historic Downtown Poulsbo, allowing them to collaborate and support all of the other local small businesses. 

It’s a wonderful place to start your day. Or, pick up some incredible treats for a special occasion!

Ono Poke Too in Kingston

ono-poke-too-kingston

Photos by Leo Phillips.

 

Poke is a way of life in Hawaii, and Steven Ono is bringing his culture and a new fresh food option to Kitsap through Ono Poke Too in Kingston. Growing up on O’ahu, Steven would race home from school to meet his uncle’s fishing boat to help clean the catch of the day, and take it to auction. 

Open since March 2021, Ono has faced challenges, but it has been well-received by the community. Being embedded in the community is very important to the Ono Poke brand, and at the end of each day, any leftover food is shared with community groups via the employees, as EVERY dish is made fresh each morning. They also proudly offer discounts to military and first-responders. A rooftop patio and surfboard storage are on the wish list for additions to the space.

Their sister restaurant in Edmonds has been open for five years and serves more than 100 lbs. of poke per day. 

Just a couple of blocks up from the Kingston Ferry Terminal, Ono Poke Too makes a delicious lunch or dinner spot and they have great drink options like Rainier Beer and Hunniwater. Check it out and enjoy!

Parlor Shop in Poulsbo

parlor-shop-pizza-poulsbo

Photos by Leo Phillips.

 

When the world opened back up in June 2020, Mike and Taylor were ready with their new restaurant: Parlor Shop in Poulsbo!  Before opening, Mike and Taylor had been hard at work renovating and curating the space and pizza menu – complete with a full-service cocktail bar. Their hard work shows in the comfortable lounge atmosphere and elegant bar design.

Mike and Taylor hope to host a community space centered around great food, drink, and company. “Every single day is a new starting point, and we’re trying to fulfill what we had envisioned,” says Mike, now on his second restaurant. For Taylor, who also boasts years of restaurant experience, “enthusiastic guests and repeat customers” is especially rewarding to see.

Nothing comes closer to realizing their Parlor Shop vision than live music. With tunes, pies, and drinks flowing, the community atmosphere shines bright, a beacon for the future of this new addition to the vibrant Poulsbo restaurant scene. Next time you’re heading down Viking Way, make a stop at Parlor Shop. Pressed for time? You can easily order online for carry-out.

The Slab Pizza Co. in Suquamish

slab-pizza-co-suquamish

Photos by Leo Phillips.

The Slab Pizza Company in Suquamish may be small, but it’s certainly mighty. Originally, “the slab” was a large cement basketball court known as a hangout for local youth, and one of the “spots to be” for fireworks. Having lived in the area since the 1990s, owner Drew Bateman chose the name to pay homage to the part of town that had the same name when he was growing up.

The interior of the shop is painted in rainbow colors, not just “because rainbows are cool,” but to show support for the LGBTQIA+ community. Drew hopes the shop can be a welcoming place for anyone who is from an underrepresented demographic. Being in Suquamish, and being on Native land is really special, and he is proud to be able to serve the community this way.

The Slab, which offers to-go only, opened in mid-June 2021, but the building was obtained in November of 2020. This is Drew’s second pizza restaurant – the first being Bene Pizza on Bainbridge Island. His background in restaurants began at Agate Pass Cafe, which was located across the street from the Slab, and he has been working with the same crew for almost a decade. He loves working with his great crew, which he says feels just like family. Plus, his daughter Chloe, who has been working with him in restaurants since she was 14, can be found behind the counter most days. Order online or stop by for a slice and an interesting soda!

Yoko Yoko Ramen in Bremerton

yoko-yoko-ramen-bremerton

Photos by Leo Phillips.

Great ramen starts with a passion for authentic cultural traditions, and James Johnson, the owner of Yoko Yoko Ramen, gained that from his time in Japan. While stationed there for the Navy, he attended the International Ramen School as a hobby, learning everything about ramen, including how to make all of the traditional ingredients, and how to open a restaurant. It wasn’t until he ended up in Kitsap that he put this knowledge to work.

The restaurant opened in April of 2021, with a bar expansion in June. Liz, the bar manager, also spent five years in Japan, and is thrilled to be able to create custom cocktails and bring Japanese ingredients to life in beautiful ways. 

Johnson’s vision was to bring something to Kitsap that would fill a void for folks who have lived or spent time in Japan, a place for nostalgia and reminiscing, while also serving those interested in trying authentic dishes.

More recently, they are hoping to bring some of the “San Diego vibe” to Bremerton, to welcome families recently relocated to Kitsap with the arrival of the USS Theodore Roosevelt. Future plans include a traditional-style karaoke lounge, available for private events. They offer gluten-free, vegetarian, and vegan options, so grab your friends and family for a great lunch, dinner, or Happy Hour meet-up. 

We hope you’ll try these wonderful places, and we can’t wait to feature a few more local businesses soon. So, stay tuned for more on our Facebook page, Windermere Sound Living. If you know of a delicious, new place here in Kitsap County, please let us know through our Facebook page and we might feature it.

Kitsap Statistics October 11, 2021

Third Quarter Review for North Kitsap’s Market

Our North Kitsap real estate market continues to grow more competitive for buyers. Read on for key highlights about our strong seller’s market.

third-quarter-market-stats-north-kitsap

Our Competitive Seller’s Market

North Kitsap’s inventory is now lower than this time last year and demand is consistently high. With the new remote working norm, the greener pastures of Kitsap living are more possible for many. And, these eager buyers outnumber sellers – reflected in the lower volume of closed sales when compared to the same time last year. Our Brokers continue to experience competitive buyer battles. Looking to buy? Don’t let that discourage you. Our local experts will help you every step of the way.

Market Data

There is a noticeable sales volume plateau in our third quarter of 2021 when compared to the rising volume of last quarter.  However, home prices are still increasing at a consistent rate.  This price growth may decrease as we enter the slower season and inventory declines.  If price growth does slow, we will see a shift toward a more balanced market.

sold-pending-graph

North Kitsap sale prices are strong, and the percent of list price received has increased 4% year-over-year.  As you can see in our graph, the listing and sale price divergence went through a slight correction in the second quarter of 2021 but it’s now back on track. Despite rising prices and low inventory, shifting attitudes of American home buyers may still contribute to pricing to avoid an affordability ceiling.  Matthew Garnder expands on this in the next section.

sold-pending-homes-graph

Home Purchase Sentiment Index with Insights from Matthew Gardner

In his most recent Monday with Matthew video, our Chief Economist, Matthew Gardner, analyzed Fannie Mae’s most recent Home Purchase Sentiment Index figures. The data comes from a survey containing approximately 100 questions on housing-related topics. Fannie Mae collected 1,000 consumer responses from across the country. As Matthew Gardner says, “It’s the only national, monthly survey that’s focused primarily on housing.”

The survey shows that many Americans continue to think it is not a good time to buy because of the low supply and rapidly rising prices.  However, many feel it is a good time to sell as consumers predict home prices and mortgage rates will go down.  As Gardner explains, “most consumers continue to report that it’s a good time to sell a home, but a bad time to buy. They most frequently cite high home prices and a lack of supply as their primary rationale…However, the good time to buy component did tick up for the first time since March.”  While this is a recipe to shift towards a buyer’s market, we’ll see how things unfold.

Gardner sums it up by saying, “Consumers tempered both their recent pessimism about home buying conditions and their upward expectations of home price growth.”  So again, we are seeing the potential for a shift toward a more balanced market.

 

Kitsap Statistics July 10, 2021

Second Quarter Review for North Kitsap’s Market

Data for the second quarter is out, and North Kitsap’s real estate market exceeded our expectations. Below you’ll find a list of key highlights with helpful insights to keep you informed about our local market.

Our Strong Seller’s Market

Our inventory remains low and demand remains high. Remote work is now a prevalent part of our new working culture, and this enables many buyers to consider areas outside major cities. Eager buyers are outnumbering sellers in more rural markets.  Our Brokers continue to experience situations where some buyers are outbid either by price or by an all-cash offer in this competitive market.

If you look at the last five quarters detailed in the graph below, there is a clear growth trend.  This includes when you’re comparing 2020’s second quarter to 2021’s second quarter.  This data indicates the market will continue to heat up this summer, which we’re already seeing.

Due to the low supply, prices are still on the rise.  And, as you can see below, the listing and sale price divergence is shrinking now. Sellers can continue to ask for higher prices as a benefit of our inventory shortage. Also, historically low mortgage rates enable buyers to meet the home price increase.

Market Insights From Our Chief Economist

In his most recent Monday with Matthew, our Chief Economist, Matthew Gardner, begins with the staggering fact that “prices have risen almost three-fold, as the cost to finance has dropped by 72%.”  If the number sounds too good (or bad) to be true, that’s because it is. To get an accurate picture, you also have to factor in inflation. Gardner explains that “just like other goods and services, the price of a house today is not directly comparable to the price of that same house 30 years ago because of the long run influence of inflation.”  When you adjust for inflation, the rise in housing prices becomes less drastic. Without adjusting for inflation, “prices have risen by 268%”. But when you adjust for inflation, the “real prices have increased by 83.6%”.  Therefore, the increase is much lower than what most people are discussing today.

Matthew also compares mortgage payments, another important piece of the puzzle.  Although, without adjusting for inflation, “mortgage payments have increased by 74.3%,” the inflation-adjusted “real payments are 10.7% lower!”  Of course, there are other monthly payments associated with home ownership. This includes property taxes, which do not change with market fluctuations. But this still indicates “that prices have been able to rise so significantly because mortgage rates have dropped”. It’s also because “inflation-adjusted home prices really haven’t skyrocketed – contrary to popular opinion.”

However, Matthew clarifies saying, “there are some markets across the country where the picture isn’t quite as rosy.  In these places, prices have risen significantly more than the national average.”  The Seattle metropolitan subunit (which extends around our local area) is one of these places. This is largely due to the increasing affluence as a result of the tech boom.

Not a Housing Bubble

Gardner’s bottom line is this: “there are quantifiable reasons to believe that we are not in a national housing bubble today.” However, he does point out that some markets will see a slowdown in price growth given “where prices are today in concert with the spectre of rising mortgage rates.”  Ultimately, it’s still a strong seller’s market with an overall low supply and high demand. We expect to continue to see issues with affordability as prices and mortgage rates continue to climb.

Community May 10, 2021

The Decorated History of Kingston’s Fast Ferry

When Kitsap Transit established the Kingston Fast Ferry to Seattle in 2018, residents were delighted to be able to travel to Seattle in just 40 minutes. This passenger-only vessel dramatically reduced commute times. It also invited Seattleites to easily explore Kingston and the surrounding area. But many people aren’t aware of the Fast Ferry’s interesting history, specifically the history of the Finest. So, we wanted to illuminate it.

The Incredible History of the Finest

Originally from New York, the Finest was purchased in January 2018 from New York Waterway. During 9/11, the Finest, along with many other vessels, rescued hundreds of thousands of people. This event is known as “The Great Boatlift.” The Finest was part of a maritime fleet that came together, sailing toward the destruction of the Twin Towers to help terrified, soot-covered people.

After almost nine hours of back and forth trips, these ferries, ships, and private boats collectively evacuated nearly 500,000 people. The Finest is named that after New York City’s finest. To travel on the Finest is to travel on a piece of history, a vessel that reminds us of a moment when people came together to help one another.

Becoming a Kitsap Fast Ferry

Over the years, the Finest had been run hard, so when Kitsap Transit purchased her, she needed significant rebuilding and repairs. She traveled from New York down through the Panama Canal, up the Pacific Coast to Victoria. Then Nichols Brothers Boat Builders refurbished her on Whidbey Island. Kitsap Transit invested over $5.9 million in the Finest in preparation for the Kingston-Seattle route. You can learn more about her journey in Kitsap Transit’s interesting video below.

Small Town Living with Fast Ferry Convenience

Thanks in part to the Finest, more people are now eyeing the Kingston area as a place to live. Many are drawn to our community’s small-town charm and its proximity to Seattle. Nearby Hansville, Port Gamble, Indianola, Suquamish, and Poulsbo also offer a slower-paced life. Commuters enjoy a swift ride on the Finest to downtown Seattle with gorgeous views of Puget Sound and Mt. Rainier. While aboard, keep an eye out for seals and even orcas. Living in the Kingston area while working in Seattle combines the best of both worlds.

We love all that our area offers and we’re proud of historical gems like the Finest.

kingston ferries

Community April 19, 2021

Community Spotlight: Kingston North Kitsap Rotary

Rotary clubs worldwide inspire innovative approaches to community service, and our Kingston North Kitsap Rotary is no exception. They’ve found creative ways to support our community during the pandemic. This local group pioneers new initiatives to support businesses, fundraise for local organizations, and preserve Kitsap’s history. Read on to find out how you can support their efforts. 

Rotary’s Motto in Action

This group’s motto is at the forefront of everything they do, stating that they “take on challenges in our community and beyond.” Kingston North Kitsap Rotary supports vocational experience, service, and leadership. They also engage youth through Interact Club, which involves 12 – 18-year-olds in local and international projects that promote Service Above Self. Our local Rotarians have led a variety of projects from raising $15,000 for Kingston’s Coffee Oasis to installing benches at the Village Green Community Center‘s park. Additionally, they engage in international service projects, including a literacy project in Cambodia and Laos.

“Kingston North Kitsap Rotary Club are people of action. We are neighbors and friends who come together to have fun, enjoy fellowship and provide leadership on important community projects, activities, and events,” says Doug Hallock, a Kingston Rotary board member and Foundation Chair. Doug is also a former Rotary President and a Windermere Kingston Managing Broker who has been affiliated with Rotary since 1983.

Swing For Rotary & Kingston Order Bombers

Most known for their Swing For Rotary event, Kingston North Kitsap Rotary raises funds annually through a golf tournament. This fundraiser benefits Food for Kids, Kingston High School scholarships, North Kitsap’s schools, Senior Meals, Coffee Oasis, community projects and events, and international projects.

Unfortunately, COVID-19 prevented 2020’s annual Swing for Rotary event. However, it is scheduled this year for June 18, 2021, and you can register now.

Rotarians have also been helping local businesses affected by the pandemic. KOB, also known as Kingston Order Bombers, is a group created by the Kingston North Kitsap Rotary Club. Essentially, they partner with restaurants from Hansville to Suquamish, Port Gamble to Kingston. Through this partnership, a group of caring community members supports a business by ordering take-out or making reservations. If you want to participate, email KingstonOrderBombers@gmail.com for more information.

 

Photos from Rotary Kingston North Kitsap.

 

 

Saving Scout Hall

Kingston North Kitsap Rotary is proudly restoring Scout Hall, a piece of Kingston’s history. Structurally, it was not enduring the test of time. Many Kingston residents have fond memories of Scout Hall. It was a hub for young boy scouts to learn essential leadership and life skills. Rather than have it torn down, our local Rotarians stepped in to restore the building. Additionally, they chartered a chapter of Boy Scouts so the program could continue.

“Without a doubt, Kingston Rotary Club is vital to this community! Their latest project to save the Scout Hall was monumental!” says Jet Woelke, Managing Broker. “Scout Hall desperately needed a new roof and structural repairs because it was on the brink of collapsing. If not for the Rotary Club, it would have been demolished. A part of Kingston’s history would be gone!” 

Donate During Kitsap Great Give or Get Involved

From joining the Kingston Order Bombers’ efforts to participating as a golfer in Swing For Rotary, there are many ways to contribute to Kingston North Kitsap Rotary’s work. Right now, you can donate to Kingston North Kitsap Rotary through Kitsap Great Give. This annual event helps hundreds of nonprofits. This year, early giving goes from April 1 – 19 with the big Great Give day happening on April 20, 2021. Local sponsors boost donations, so your donation means even more. You can also give back by becoming a member. It’s a great way for established professionals to make an impact.

Kitsap Statistics April 8, 2021

First Quarter Review for North Kitsap’s Market

Our local real estate market is on the rise, and we had an interesting first quarter after the seasonal slowdown. We’ve compiled North Kitsap’s key market highlights so you can stay current with our local real estate market.

first quarter market stats

Our Strong Seller’s Market

Our area continues to have low inventory from the surge in demand with people moving away from the bigger cities.  As COVID-19 changes the way we work, there are still many eager buyers outnumbering sellers.  Some buyers are being outbid either by price or by all-cash offers.  Our local experts are here to help navigate this competitive market.

When you look at 2020’s first quarter compared to 2021’s first quarter, you can see that a similar growth trend after the holidays is repeated.  However, growth has slowed relative to last year, with much of North Kitsap’s inventory sold during the Covid boom.  And, our lower supply may indicate prices will rise. Get ready for the market to continue to heat up as we move from spring to summer.

sold pending graph

This strong seller’s market is driving us toward an affordability ceiling.  There is a growing sale price and listing divergence, shown in the chart below. Prices may soon be too high for many people to afford to buy a home here.  Sellers, however, continue to benefit from our inventory shortage, asking for higher prices. 

Affordability Issues and Market Insights

Matthew Gardner, Windermere’s Chief Economist, continues to track this affordability ceiling in his most recent Housing and Economic Update: “If the pace of home price growth continues, many households will start to be priced out” of what people can actually afford.  As Gardner points out, we need more supply, and we need home prices to drop to alleviate this market strain.

Unfortunately, that might not happen fast enough for many hopeful homebuyers to make their dream a reality. Gardner reminds us that the cost of materials, recent storms, and the current housing market prices have all added to the cost of building new homes. This, in turn, will add to the listing price.

Additionally, Gardner points out that mortgage rates have risen after “a jump in bond yields has led rates to spike” as the country re-opens and economic activity increases. The resulting potential inflation causes the 10-year treasury interest rates to rise in hopes of attracting more buyers.  However, it is still far below standard rates and shouldn’t be a concern for buyers right now.

Ultimately, it’s still a strong Seller’s Market with an overall low supply and high demand. We expect to continue to see issues with affordability as prices continue to climb.

Home March 8, 2021

Reduce Your Carbon Footprint: 4 Easy Tips

We all hear about reducing our carbon footprint, but what does it mean? To put it simply, reducing your carbon footprint reduces the number of actions that lead to the generation of greenhouse gases in the atmosphere. Greenhouse gases trap heat in our atmosphere and make our planet warmer, leading to global warming. The largest source of greenhouse emissions from human activity is from burning fossil fuels for heat, electricity, and transportation. 

By making these small changes to your daily routine, you can start to reduce your carbon footprint and help Mother Earth. 

1. Eat Locally

Shopping locally has numerous benefits for the environment and can dramatically reduce your household’s carbon footprint. Produce at the supermarket needs to be transported across hundreds of miles and stored in a cool environment. This expends a lot of energy and increases carbon emissions. Shopping at a farmers’ market cuts out transportation, gives you fresher produce, supports your local farmers, and keeps your dollars local to support your community.

There are a bunch of farmers’ markets that are open on Saturdays throughout Kitsap County. Kingston’s Public Market is open from May – October on Saturdays from 9:00 AM – 2:00 PM. Poulsbo Farmers Market and Bainbridge Island Farmers’ Market are both open from April – November on Saturdays from 10:00 AM – 2:00 PM. 

Additionally, Kitsap Fresh is a great year-round option. Every week, you can shop online for local produce, meats, and goods, and they have many pick-up locations.

2. Use Different Transportation Options

Biking and/or using public transportation significantly reduces your carbon footprint. Washington State is even starting to switch to clean energy for ferries by converting its diesel-fueled ferries to hybrid-electric propulsion.  

Though this information is helpful, we understand that these options don’t meet every household’s needs. There are times where you cannot avoid driving your car. Luckily, there are ways in which you can drive your vehicle to be more energy-efficient and reduce the vehicle’s carbon emissions. One way is to keep your car up-to-date and make sure your vehicle meets your state’s emissions standards. Turning off the air conditioning and utilizing cruise control on long trips can reduce your carbon emissions as well. If you are in the market for a new vehicle, consider purchasing an electric power car or a hybrid option. These cars often cost less to operate in the long run. 

3. Reduce, Reuse, and Recycle

Let’s not forget this catchy phrase that our teachers taught us. Some of us may have fallen out of practice, but no time like the present to start back up!

Here are some steps you can take:

  • Reduce your consumption by merely buying less. Avoid items with a lot of packaging, and reduce the amount of unnecessary electricity you are using.
  • Reuse certain household items to help reduce your consumption and save money over time. Buy reusable bags, kitchen towels, compostable sandwich bags, and beeswax storage wraps. They’ll cut down your waste, are easy to use over and over, and can reduce your plastic consumption.
  • Recycle items that are at the end of their lifespan. Reusing an item can only last so long, so make sure you dispose of it correctly. 

4. Conduct an Energy Audit

Your house may be using energy inefficiently, raising your electricity bill. By performing a simple energy audit and making small changes around the house, you can reduce both your electricity bill and carbon footprint at the same time. Common ways we use energy in our home inefficiently are leaving unnecessary lights on for long periods, not unplugging electronic devices when they’re not in use, and using incandescent light bulbs. 

Incandescent light bulbs waste a lot of energy because much of it is converted into heat. Switching to LEDs might be a little more expensive up front, but they last 25 times longer while only using a quarter of the energy. To take this up a notch, check out our guide to solar power

Excessive use of water can also add to our carbon footprint. Taking mindful and shorter showers can help. And, lowering our water heaters to 120˚F can save hundreds of pounds of CO2 emissions a year. 

Stopping or slowing the pace of climate change won’t happen overnight, but by implementing small changes to our daily routine, we can reduce our collective impact.

Kitsap Statistics January 26, 2021

Fourth Quarter Review and Our 2021 Market Forecast

Kingston’s North Kitsap market ended 2020 with a strong fourth quarter. Below are key stats to provide an overview of our local market, as well as insights and a 2021 market forecast from Windermere Real Estate’s Chief Economist, Matthew Gardner.

North Kitsap market stats

Our Strong Seller’s Market

Kingston is still a seller’s market as we head into winter. There aren’t as many houses for sale despite a high demand. Buyers, be aware that while the market is in the usual seasonal slowdown – it’s not as slow as expected given COVID-19. Many are leaving bigger cities, giving the advantage to sellers. Our Brokers have seen an increase in situations where some buyers are outbid either by price or by an all-cash offer.

In 2020’s fourth quarter, the average sale price in North Kitsap was up 21.3% year-over-year at $597K. Sale prices continue to hover close to listing prices, indicating strong demand.

sold homes graph North Kitsap

North Kitsap avg listing price

2021 Market Predictions

In his final Monday with Matthew video of 2020, our Chief Economist, Matthew Gardner, shared his 2021 market forecast. He’s optimistic and for some good reasons.

First off, Gardners expects mortgage rates will not rise significantly on a local level, nor will they vary significantly throughout different regions across the U.S. Since mortgage rates are heavily tied to 10 year treasury maturity rates/yields, rates shouldn’t rise significantly until the entire market recovers from the COVID-19 slowdown.  Another great sign is that Gardner expects home sales will grow significantly, from 5.55% in 2020 to 5.93% in 2021. That’s “to a level we haven’t seen since 2006,” Gardner explains.  With the continuation of historically low mortgage rates and the consistent increase of home values, 2021 looks bright.

“No! There isn’t a housing bubble forming. But price growth will slow & sellers may feel like it’s a collapse … it isn’t collapsing, it’s just normalizing.”

Matthew reminds us that there are pitfalls to be wary of in this strong market. First and foremost: “we need more inventory.”  With the shuffling to new homes, and the huge wave of “first-time buyers [that] will continue to be a major player in the housing market,” many are making moves in a flood that will not persist. Buying during the pandemic will slowly settle. People are expected to stay in their homes longer, especially homeowners who have chosen to refinance. House values will rise due to the lack of supply, and that may price out many buyers who want to purchase in our area. 

Western Washington’s Market Report

For a big picture glance at how our local market compares, here are highlights from The Western Washington Gardner Report.

WESTERN WASHINGTON HOME SALES

  • Total Sales: 26.6% increase from Q4/2019, but 8.3% lower than Q3/2020
  • Homes for Sale: 37.3% lower than Q4/2019, and 31.2% lower than Q3/2020
  • Pending Sales: up 25% from Q4/2019, but 31% lower than Q3/2020
WESTERN WASHINGTON HOME PRICES
  • Average: $617,475 (up 17.4% from Q4/2019). This continues the trend of above-average appreciation of home values.
  • Interestingly, prices between Q3 and Q4 of 2020 only rose by 1%.  Is there a price ceiling we’re reaching?
  • Mortgage rates will stay competitive as the market continues to charge toward a price ceiling and potential affordability issues.
DAYS ON MARKET, WESTERN WASHINGTON
  • Average: 31 Days (16 days less than Q4 just one year ago)
  • In Kitsap County, average days on market: 17

Conclusion

Yes, it’s a Seller’s Market once again.  Matthew Gardner says, “I am moving the needle even further in favor of sellers.”  Here’s why: Covid-19 continues to push homeowners to stay put while renters flock to the countryside.  The resulting limited supply has “caused the region’s housing market to be incredibly active.” Matthew does warn that there may be “affordability concerns” that could prevent some homebuyers from entering the market and eventually slowing growth.
2021 will continue the trend of working from home, which keeps demand high. This, in turn, will drive sales growth, while affordability barriers will balance our current runaway appreciation for home values.