Facebook
Twitter
Pinterest
Copy Link
Neighborhoods on Bainbridge Island
Bainbridge Island is known for its scenic vistas and small-town allure, attracting both tourists and homebuyers. It’s also conveniently close to Seattle. Take a beautiful 35-minute ferry ride, and you’ll be in the city. While the island as a whole has excellent schools, beaches, hiking trails, restaurants, and shops, each neighborhood is unique, and there are different housing options to consider. From downtown condominiums to waterfront estates, Bainbridge Island offers an interesting mix. Here’s an overview of the island’s three main areas.
North Bainbridge Island
The Agate Point area (near the Agate Pass Bridge) is where many homes are nestled in the woods. Some even have water views. The neighborhood is also near the Bloedel Reserve, a stunning 150-acre botanical garden.
Another notable neighborhood is Port Madison. It’s characterized by a New England feel and homes typically offer picturesque waterfront views. Residents here enjoy convenient access to the Port Madison Yacht Club and Fay Bainbridge Park. This area also features the newer Hidden Cove Estates, with its open spaces and a waterfront park.
If you’re looking for a waterfront home with views of the Olympic Mountains, Manzanita Bay is an ideal choice. It’s also close to the Meadowmeer Golf & Country Club and the sprawling Battle Point Park.
If you prefer a more rural lifestyle, Rolling Bay is a charming community that offers homes on acreage. It’s near the central part of the island and provides a serene escape, yet it’s only a ten-minute drive from downtown Winslow.
Central Bainbridge Island
If you’re partial to neighborhoods that are closest to the ferry terminal to Seattle, look at houses in the central part of the island. Central Bainbridge is also the economic hub of the island, so it’s where you’ll find a more urban lifestyle. Manitou Beach and Murden Cove both boast waterfront properties with views of the Seattle skyline.
Wing Point is another popular neighborhood with a diverse range of housing options. Many residences are situated close to the Wing Point Golf & Country Club, and some have views of Eagle Harbor.
The downtown Winslow area serves as the cultural heart of Bainbridge Island. Here you can enjoy great shops, award-winning restaurants, and interesting museums. Additionally, there are many wonderful local events throughout the year, including concerts, First Friday Art Walk, and holiday festivals.
South Bainbridge Island
The southern region of Bainbridge Island benefits from excellent sun exposure. Neighborhoods in this part of the island offer stunning water and/or mountain views. This includes the Crystal Springs and Point White neighborhoods. Rockaway Beach and Port Blakely are also popular and have many low-bank waterfront homes. If you’re interested in buying a newer home, Port Blakely has homes built in the early 2000s.
Although this part of the island is a short drive from downtown Winslow, it has its own little downtown: Lynwood Center. This area has grown in recent years, especially with the renovation of Pleasant Beach Village. It’s a unique place with a fun mix of shops and delicious restaurants, and it is known for its Tudor-style architecture.
The Fort Ward neighborhood connects to part of Pleasant Beach Drive, and it is home to many exceptional, low-bank waterfront properties. Fort Ward State Park is a 137-acre marine park with an expansive beach. I recommend visiting it, especially on a sunny day.
Learn More About Neighborhoods on Bainbridge Island
If you want to learn more about Bainbridge Island’s schools, outdoor recreation, and more, view our free digital Guide to Bainbridge Island. Curious about Bainbridge’s real estate market? Check out our first-quarter market update.
I encourage you to explore the different neighborhoods on Bainbridge Island, and I’m happy to assist you as a knowledgeable local. For over thirty years, I have been marketing and selling properties in the Seattle and Bainbridge Island markets. Premier waterfront and estate properties are my specialty, but I’m happy to help first-time homebuyers, investors, and everything in between.
Bainbridge Island Market Update: Q1, 2023
If you’re wondering about how our local real estate market is doing, here’s a market update for Bainbridge Island with a look at this year’s first quarter.
Homes that are Properly Prepped are Going Quickly
Pending sales are up! Buyers are looking for new listings and are reacting quickly to those homes that are unique, prepped (pre-listed and repaired), staged, professionally photographed, and, most importantly, priced appropriately for THIS market. The average days on market for these can be under a week. If these things are not done, especially if not priced appropriately, the listing, even with low inventory, languishes on the market. It’s critical to work with a Listing Broker who is honest and direct to achieve success in preparing the home for the market and getting it sold for the highest possible price.
Bainbridge Island’s Market Update for 2023’s 1st Quarter
During the first quarter of 2023, the average sale price on Bainbridge Island was $1.6M. That’s a 10% increase when compared to the first quarter of 2022. While we are seeing some changes in our regional real estate market, the percentage of the list price received on Bainbridge was 97%. For more stats from last quarter, watch our video below.
A Great Selling Broker is Essential
As the interest rates continue to affect affordability, buyers are being careful not to overpay. These buyers must be pre-approved and prepared to move quickly and creatively when their dream home does come on the market. Therefore, it’s essential to work with an experienced Selling Broker who understands how to present your offer in its best possible light.
Why This Market Won’t Be Like 2008
There’s been a lot of talk lately about the housing market in relation to 2008. Our Chief Economist, Matthew Gardner, provides data-driven insights on this very topic in one of his recent videos. You can watch it below, and if you have any questions, feel free to contact me.
Navigating Our Current Seller’s Market: Tips for Buyers & Sellers
We still have a strong seller’s market here on Bainbridge Island. Whether you’re looking to buy a home on the island or sell one, I have some helpful tips for you. But first, a bit about our current market.
Recent Stats for Our Seller’s Market
With high demand and low supply, we have a strong seller’s market. In the second quarter of this year, the average sale price on Bainbridge Island was $1.46M, up 26% from this time last year. Additionally, the percentage of list price received was 108%. I’ve continued to see many competitive, multiple offer situations where buyers are outbid by price or all-cash offers.
For more information on our seller’s market, you can read the Western Washington Gardner Report, done quarterly by Windermere’s Chief Economist, Matthew Gardner.
4 Tips for Buying in a Seller’s Market
You may feel overwhelmed when thinking of buying a home right now, given our competitive market. However, if you follow these tips below, you’ll be on the path to success. One tip I can’t stress enough: do your due diligence. Take the time to research agents and properties. You want to find a real estate agent who has the expertise and local knowledge to advocate for your needs and wants, serving as an excellent negotiator and trusted guide. Knowing as much as possible about a property and its neighborhood, and asking all the right questions can really help you craft a strong offer.
If you have any questions, feel free to reach out. If you’re new to the area, check out our guide to Bainbridge Island.
5 Tips to Sell Successfully
If you want to sell your home for top dollar in the shortest amount of time, here are some helpful tips. While there are many ways to get a rough estimate of your home’s worth, I can provide an accurate free market analysis. Feel free to contact me to learn more.
Real Estate Investing
If you’re looking to expand your real estate portfolio, check out these tips below. As a Managing Broker and licensed attorney, I’ve worked with a range of clients. I’ve been marketing and selling properties for over 30 years, and I’d be happy to provide you with more information if needed. You can also view my sales portfolio.
Fourth Quarter Review and 2021 Market Forecast
Our local real estate market here on Bainbridge Island finished 2020 strong. You’ll find key stats below, providing a comprehensive overview, and a 2021 market forecast from Windermere Real Estate’s Chief Economist, Matthew Gardner.
Bainbridge Island’s Strong Seller’s Market
Inventory remains low while demand is high, so we still have a strong seller’s market. Buyers: you should know that although the market is in a seasonal slowdown, it is not as slow as expected. There are still many buyers looking to move away from big cities like Seattle yet still remain in close proximity. I have seen an increase in situations where some buyers are outbid either by price or an all-cash offer. In 2020’s fourth quarter, Bainbridge Island’s average sale price was up 12.9% year-over-year at $1.315M.
2021 Market Forecast
In his last Monday with Matthew video of 2020, Chief Economist, Matthew Gardner, shared his 2021 market forecast. He expects mortgage rates will not rise significantly on a local level. He also doesn’t think they will vary much throughout different regions across the U.S. Since mortgage rates are tied to 10-year treasury maturity rates/yields, he doesn’t think rates will rise significantly until the entire market recovers from the slowdown caused by COVID-19. Additionally, Gardner expects home sales will grow, from 5.55% in 2020 to 5.93% in 2021.
“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.”
With the shuffling to new homes, and the huge wave of first-time buyers that Gardner says will “continue to be a major player in the housing market,” many are making moves. But buying during the pandemic will slowly settle. People will probably stay in their homes longer, especially homeowners who decided to refinance. The lack of inventory may price out many buyers who want to purchase in our area.
Western Washington’s Market Report
For a look 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
- Average: $617,475 (up 17.4% from Q4/2019)
- Mortgage rates will stay competitive as the market continues to charge toward a price ceiling and potential affordability issues.
- Average: 31 Days (16 days less than Q4 just one year ago)
- In Kitsap County, average days on market: 17
Conclusion
First Quarter 2020 Review – Bainbridge Market
First Quarter Review 2020 & COVID-19
Discussion about the Bainbridge housing market and the economy in general in the first quarter of this year is almost meaningless due to COVID-19. It did not really impact the first quarter market much at all. The data you see here regarding housing activity will be quite different by the time we report on the second quarter in July. Additionally, the high-end market has remained very active. Our lack of inventory still creates many multiple offer situations in homes under $1M.
From this first-quarter review, you can see that the median sale price has gone up 4.3% year-over-year and the number of transactions went up 31% year-over-year. However, as I said before, a look at the first quarter means very little since our situation has changed drastically since then.
Graphs were created by Windermere using NWMLS and Trendgraphix data for area 170 but the information was not verified or published by NWMLS or Trendgraphix. Market Share Data reflects all types of properties sold calculated on May 6, 2020. Companies not shown represented less than 2% of buyers and sellers.
What We Anticipate in the Months Ahead
The national and state housing markets were in good shape before the virus hit. We anticipate that they will be in good shape again, once we come out on the other side of this. When the economy opens up again, we foresee a rapid climb in the housing market volume. This will put upward pressure on prices again.
Windermere’s Chief Economist, Matthew Gardner, discusses the economy and job growth in relation to the housing market.
The speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.
Are you interested in buying or selling on Bainbridge Island or in Seattle, WA? You’re welcome to contact me. I have decades of experience and I’d love to help you achieve your real estate goals.
Bainbridge Residential Market: 2019 Data and 2020 Forecast
Bainbridge’s Residential Market: 2019 in Review
I’m often asked about the current state of affairs in Bainbridge’s residential market…whether or not it’s a good time to list your home or buy a home. For perspective, it’s a good idea to take a look at what happened last year and what the projection, while not an absolute certainty, is for this year. Inventory is very low on the island, and there is a great deal of buyer demand. So yes, it’s absolutely a good time to list while there is little competition among sellers to get their home noticed. At the same time, it is a good time to buy with the record low mortgage rates versus high rental rates.
Graphs were created by Windermere using NWMLS and Trendgraphix data for area 170 but the information was not verified or published by NWMLS or Trendgraphix. Market Share Data reflects all types of properties sold calculated on January 10, 2020. Companies not shown represented less than 2% of buyers and sellers.
Our 2020 Real Estate Forecast
Wondering what to expect for our market this year? Worried about the talk of a recession and how it will impact your buying or selling potential? Windermere’s Chief Economist, Matthew Gardner, gives his data-driven take on it all.
Understanding Our Current Residential Market
The market continues to benefit from low mortgage rates. The average 10-year fixed rate is currently around 3.6% and it is unlikely to rise significantly anytime soon. Additionally, borrowing cost remains very competitive. However, buyers are not necessarily jumping at any home that comes on the market. They have become increasingly price-conscious and the slowing home price growth reflects this.
The speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.
If you’re interested in buying or selling on Bainbridge Island or in Seattle, WA feel free to contact me. I have decades of experience and I’d love to help you achieve your real estate goals.
Bainbridge Market Update and Real Estate Excise Tax Change in 2020
As 2019 comes to a close, here’s a look at our local real estate market for Bainbridge Island, Washington. I also want to take a moment to mention the upcoming change to Real Estate Excise Tax (REET) for Washington state. If you’re thinking of selling property in 2020, it may impact you.
Bainbridge Island’s Current Market
This snapshot shows year-to-date residential market information as well as how our market has changed from 2018 to 2019. The 31% increase in median sales price is certainly noteworthy, as is the average sales price, which has gone up by 34.6%.
Real Estate Excise Tax Change in 2020
Washington state’s Real Estate Excise Tax (REET) is changing to a graduated system in 2020. Real Estate Excise Tax is a tax on the real estate sale and it is typically paid by the seller. Will this new system impact you if you decide to sell your property in 2020? Here’s Windermere’s Chief Economist, Matthew Gardner explaining what this change means and who exactly will be impacted.
The New Tiered System for REET
Currently, there’s a flat rate excise tax of 1.28% with municipalities adding their own tax on top of the state tax. In general, cities add 0.5% so the total becomes 1.78%. With the new legislation, the tiered system will look like this.
If you still have questions or want to discuss your options, let’s set up a time to talk. I’m happy to discuss this further and provide any assistance you may need.
Tackling Homelessness and Our Fall Market News
Partnering with the Seahawks to Tackle Homelessness
We’re proud to be the Official Real Estate Company of the Seattle Seahawks and we’ve partnered with them for a 4th year to help address homelessness through our #TackleHomelessness Campaign. For every Seahawks defensive tackle during a home game, Windermere donates $100 to Mary’s Place, which provides shelter, resources, and meals to families on their journey out of homelessness. As of Oct. 21st, we’ve raised $113,100.
The Fall Real Estate Market Cool Down
- In the last 9 months, single-family homes have sold for an average of $1,019,444. That’s a 1.6% increase from the same time period in 2018, showing how our robust regional economy positively impacts prices.
- Local agents have sold 288 residential homes through Sept. and 116 of them were sold during the summer. The market did heat up, but when comparing this time period to last year, that’s a 10% drop in homes sold.
- The 3rd quarter absorption rate (the rate at which available homes are sold each month) was 42.1% for single-family homes, a 13.2% decrease when compared to last year’s 3rd quarter.
- As of Sept. 30th, there were 80 active listings. Compared to Sept. of 2018, that’s an 11% decrease. But the number of homes sold in Sept. went up by 3% year-over-year and the number of pending sales increased by 6.5%.
A Look at Condominium and Land Sales
In the condominium market, 78 units have been sold so far this year. When we compare that to 2018, it’s a 21% decrease in units sold. However, September’s average sold price was $629,000, which is a 23.3% increase year-over-year.
Regarding land sales, the average sold price in September was $241,000, a 56.2% drop from September of 2018. But 12 lots were sold during the 3rd quarter this year while only 3 lots were sold during that quarter last year. Land still tends to sell quickly if there aren’t any major issues.
Why a Local Realtor Makes a World of Difference
Our Summer Bainbridge Market News
Sunny Skies For Our Summer Bainbridge Market
This summer, our Bainbridge market has really picked up in the last couple of months. Inventory is getting snatched up quickly and there are often still multiple offers, though that’s not as frequent as it was in the past.
- Local agents have sold 183 single-family homes so far this year.
- Of those, 133 were sold in the 2nd quarter, up 3.9% year-over-year.
- In the last 6 months, single-family homes have sold for an average of $1,017,667 up 2% year-over-year.
- June’s absorption rate (the rate at which available homes are sold each month) for all properties was 42.7%, down 26.7% year-over-year, indicating a change toward a balanced market.
- As of July 1st, there were 112 active listings. This is the most we’ve had in the past 5 years at this time. We also have the fewest pending sales (currently 48), so there’s more inventory and fewer sales. Let’s see if this trend continues with consistency toward a market shift.
Buyers are often more selective so understanding their expectations and Bainbridge’s current pricing is important. Many buyers are looking for homes that are in pristine condition. That’s why it benefits you to work with an experienced agent who can guide you through the process.
The Latest on Condominium and Land Sales
While the condominium market has softened, we’re still seeing significant sales with 50 units sold so far this year. June’s average sold price was $491,000. When it comes to land, if it isn’t encumbered by easement issues or similar challenges, then it tends to sell quickly. The average sold price for land in June was $247,000, which is a 51.5% decrease year-over-year. However, my colleagues and I are seeing more activity on vacant land; in June alone, 3 lots were sold and 11 went into pending status.
Moving Toward a Balanced Market
Windermere’s Chief Economist Matthew Gardner anticipates that we will begin to move toward a balanced market. In the past two decades, prices have either been skyrocketing or crashing. “Many [home buyers and home sellers] have never seen a normal market,” Gardner explains. “From a home seller’s perspective, they still have very heady expectations as to what their homes are worth…that needs to be tapered down a little bit. From the home buyer’s perspective, they’re seeing more choice now than they’ve seen in several years.” Despite what some media outlets say when analyzing shorter term averages, it is still a seller’s market and Gardner expects that “home price growth will continue but at a more modest pace.”
If you can dream it, we can find it.
Whether you’re thinking of buying or selling, I’m here to assist you. I can provide you with a wealth of information, from market trends and pricing to local schools and resources.
Check out my active listings or my sales portfolio.
When you’re ready, I’m just a click or a call away.
