July 2025 Monthly Update
The Bainbridge Island housing market in June 2025 is showing notable changes compared to both the previous month and the same time last year. Median days on market increased by 23% month-over-month, now sitting at 16 days—also up 23% year-over-year—indicating a slight slowdown in how quickly homes are selling. Meanwhile, the median price per square foot jumped to $513, a 13% decrease from May and nearly 5% below June 2024. Inventory also climbed significantly, with 100 homes for sale—up 12% from May and a striking 28% from last year—indicating a shift toward a more balanced or even buyer-leaning market.
Sales Volume
A total of 41 homes were sold, marking an 11% increase from the previous month and a 2.5% increase year over year. This rise in sales volume indicates demand in the market despite some challenges.
Inventory Levels
There were 100 homes for sale, representing a 12% increase month over month and a significant 28% increase year over year.
Days on Market
The median days on market for homes was 16, up 23% from both the previous month and the same month last year. The average days on market was 28, up 23% month over month but down 17% year over year. This mixed trend indicates that while some homes are taking longer to sell, overall market efficiency has improved compared to last year. This has been one of the most frustrating elements for many right now is the time it's taking to sell. With the growing inventory, buyers have a wide consideration set. This is apparent with the data within seasonal change and the year over year changes.
In looking at June 2025 and comparing it to the Junes in 2021-2024, this is deepening the gap.
Pricing Trends
The median sold price was $1.147 million, marking a significant 20% decrease month over month and a 21% decrease year over year, hitting the lowest point since February 2024.
The average sold price was $1.334 million, down 21% month over month and 13% year over year, the lowest since March 2023.
The average price per square foot was $530, down 18% month over month and 6.7% year over year, while the median price per square foot was $513, down 13% month over month and 4.8% year over year. These declines suggest price corrections or adjustments in the market, possibly influenced by increased supply or economic factors.
There were 35 price reductions in the month of June.
Contract Activity
Homes under contract were 32, experiencing a 22% decrease month over month but a 6.7% increase year over year. This decline in monthly contract activity could be indicative of buyers taking a more cautious approach in the current pricing climate.
Sold Price to List Price Ratio
The sold price to original list price ratio was 97%, down from 99% the previous month but consistent with the 2025 average. This slight decrease suggests a slight cooling in competitive bidding situations.
New Listings
There were 54 new listings, down from 72 the previous month, yet it was the third largest month for new listings year-to-date. This indicates a steady influx of new supply, potentially balancing out market dynamics.
Insights
The Bainbridge Island real estate market is experiencing a transition phase with increasing inventory and declining prices.
Buyers might find the current market conditions favorable with more choices and potential price negotiations.
Sellers might need to adjust expectations in light of increased competition and longer market times.
Investors could view this period as an opportunity, particularly if pricing adjustments continue.
Overall, the market's evolution suggests a shift towards equilibrium, providing opportunities and challenges for both buyers and sellers in the months ahead.
