Realogics Sotheby’s International Realty to host Bainbridge waterfront home tour

Research indicates soaring median home prices, sinking inventory.

Realogics Sotheby’s International Realty, the Pacific Northwest’s largest affiliate for the global real estate network, announced this week it will host a “Rising Tides” Waterfront Home Tour on Bainbridge Island.

The program targets prospective home buyers, would-be sellers and mainland brokers who want to better understand the state of the niche submarket.

The tour departs from Eagle Harbor at 12:30 p.m. Saturday, July 19 and is expected to return at 4:30 p.m.

Tickets are available now; the cost is $49 per person.

“We are very pleased to host this exciting event and showcase our beautiful island lifestyle,” said Marilyn Turner, branch manager of Bainbridge Island for Realogics Sotheby’s International Realty.

“We hope to unite buyers and sellers as we expose our waterfront as an attractive alternative to living on the mainland and to demonstrate our relative value despite the upward trending on pricing,” she said.

Turner said that the median home price of waterfront homes sold on Bainbridge Island has doubled from $661,000 in 2011 to $1,332,004 in 2014 so far.

Meanwhile, relatively stable demand of the 34 waterfront home sales — on average — for each half year points to competition for the rather anemic supply of just 36 homes currently listed for sale.

“There’s little doubt that the supply-and-demand imbalance is creating upward pressure on values,” Turner added.

“This creates an encouraging environment for would-be sellers to consider listing their homes with us, especially when we are observing an increase in both interstate and international activity here on Bainbridge Island. The market is heating up and summer sales season is upon us,” she said.

Visit www.RSIR.com for more information about the tour and to purchase tickets.

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