Washington housing market pretty crazy. How's your area?

[Black Picket Fence]

Late last year, I went looking for a house in a quieter place, safely away from the sucking vortex of Seattle's ever-increasing downward spiral.

My first choice was rural Snohomish county because it's still close to the city, but not too close. Unfortunately, the first wave of the telecommuter exodus out of Seattle had already beat me to it, and everything in my price range was unsuitable for one reason or another. I could afford to spend significantly more if I wanted to, but I had a specific price range in mind that was well within my means, and didn't want to exceed it.

After looking as far afield as Bellingham and Chehalis, I ended up in northern Kitsap county, near Poulsbo, which wasn't even on my radar when I started looking. But I'm very happy with the place I bought. I got everything I was looking for, and while I paid asking, it was well within my ideal price range. I still have to go back to Seattle for a couple of days every week, so I've spent a lot of time in ferry lineups, but I'm cool with it; that's my "needlework and audiobook" time.

So the sale closed early this year, and I'm settling in. I gave no more thought to real estate matters until a couple of weeks ago, when I started to notice the Redfin alerts in my email inbox for all these "expensive" houses in and around Poulsbo. I think it took three or four idle, "they want that much for that house?" reactions before it dawned on me that maybe the market was getting hot over here. And, sure enough, it is, with houses going quickly, and over asking price. The median sale price is now $565K, up 25% over a year ago (and I paid quite a bit less than that).

And I'm like, "It's really pleasant, and I'm glad I'm here, but man, it's Poulsbo. You better bring your own excitement, because you're not going to find a lot of that here."

[MtnSurfer]

Originally Posted by Black Picket Fence

Late last year, I went looking for a house in a quieter place, safely away from the sucking vortex of Seattle's ever-increasing downward spiral.

My first choice was rural Snohomish county because it's still close to the city, but not too close. Unfortunately, the first wave of the telecommuter exodus out of Seattle had already beat me to it, and everything in my price range was unsuitable for one reason or another. I could afford to spend significantly more if I wanted to, but I had a specific price range in mind that was well within my means, and didn't want to exceed it.

After looking as far afield as Bellingham and Chehalis, I ended up in northern Kitsap county, near Poulsbo, which wasn't even on my radar when I started looking. But I'm very happy with the place I bought. I got everything I was looking for, and while I paid asking, it was well within my ideal price range. I still have to go back to Seattle for a couple of days every week, so I've spent a lot of time in ferry lineups, but I'm cool with it; that's my "needlework and audiobook" time.

So the sale closed early this year, and I'm settling in. I gave no more thought to real estate matters until a couple of weeks ago, when I started to notice the Redfin alerts in my email inbox for all these "expensive" houses in and around Poulsbo. I think it took three or four idle, "they want that much for that house?" reactions before it dawned on me that maybe the market was getting hot over here. And, sure enough, it is, with houses going quickly, and over asking price. The median sale price is now $565K, up 25% over a year ago (and I paid quite a bit less than that).

And I'm like, "It's really pleasant, and I'm glad I'm here, but man, it's Poulsbo. You better bring your own excitement, because you're not going to find a lot of that here."

Wow, yeah! $565K in Pouslbo. That does seem pretty nuts. I guess its part of that wave of people you mentioned from Seattle who are now freed up to telecommute. And its likely just one of many waves as folks begin fanning out across the state. But since you're within that 'a couple' times a week drive/ferry range, its jacking up prices more. Good thing you got in when you did!

Derek

[Ultrarunner]

It's happening just about everywhere...

Pandemic is a game changer combined with the big city problems...

A place a little off the beaten path with a little room is good for the soul...

There is the fear of declining purchasing power of the dollar and wanting to have something real...

[xPlorer48]

Originally Posted by MtnSurfer

Wow, 750k for that little, old thing. And jumping 200k above listing is pretty crazy indeed.

The look from the outside vs. inside is pretty different. But still, 750k? It doesn't even appear to have a garage. My guess is that its the land that really did it and 1/2 acre. I bet taxes aren't going to be pretty on that one once reassessed.

Derek

It does have Squalicum Creek frontage plus has, as you said, a larger lot. My grandparents’ home in the same neighborhood, now has another home on it. And, DADUs and ADUs are now permitted.