Is Bainbridge Island, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bainbridge Island is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Bainbridge Island has remained a Seller's Market.

Key Takeaway

Bainbridge Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bainbridge Island, WA

How much do homes in Bainbridge Island, WA cost?

Median Sold Price

$1,196,000

$565/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$54,000(-4.3%)

Key Takeaway

Homes in Bainbridge Island have sold for 4.3% less than they did a year ago.

Summary: The median home sold price in Bainbridge Island was $1,196,000 in May 2024, down 4.3% from last year, and the median price per square foot was $565.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $593.5K$610K
+2.8%
2 $925K$929K
0.4%
3 $1.2M$1.2M
-3.4%
4 $1.5M$1.5M
+2.8%
5+ $2.5M$1.7M
-30.6%

Summary: Bainbridge Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes increased by 0.4%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 30.6%.

Housing Supply in Bainbridge Island, WA

How many homes are available in Bainbridge Island, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
109151+38.5%

Summary: The Bainbridge Island real estate market had 151 homes for sale in May 2024, a 38.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 23
+50.0%
2 2737
+37.0%
3 5372
+35.8%
4 2132
+52.4%
5+ 67
+16.7%

Summary: The Bainbridge Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 37%, 3 bedroom homes increased by 35.8%, 4 bedroom homes increased by 52.4%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3134+9.7%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bainbridge Island, you could pay more than the asking price. 44.1% of homes here sold above asking price last month.

Summary: A total of 34 homes were sold or pending in Bainbridge Island in May 2024, up by 9.7% month-over-month. Of the 34 sold homes, 21% were sold under asking, 35% were sold at asking, and 44% were sold over asking.

Days on Market for Bainbridge Island, WA

How long does it take to sell a home in Bainbridge Island, WA?

Average Sale Time

May 2023May 2024CHANGE
22 Days23 Days+7.6%

Summary: Homes in Bainbridge Island had an average of 23 days on market in May 2024, up by 7.6% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bainbridge Island are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 34 homes were sold in Bainbridge Island; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

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