2009 Kitsap County Budget Book - Kitsap County Government

General Information and Economic Indicators
HOUSING
Housing prices in Kitsap County slipped 4 percent between January and February 2009 to a median closing
price of $225,000. That median closing price is an 11 percent drop over February 2008. The Washington Center
for Real Estate Research at Washington State University reported that the slump in housing sales and prices hit
nearly every county in the state in the fourth quarter of 2008. Homes that tumbled into foreclosure made up 13
percent of all local sales activity in 2008. An additional 17 percent of homes were sold at a loss. There were
2,060 active residential listings in January 2009 and 126 closed sales. The average days on the market was 94.
ECONOMIC AND DEMOGRAPHIC TABLES
The tables that follow provide further economic and demographic information on the County.
Table 9
TAXABLE RETAIL SALES
($000)
Year
Kitsap
County
State of
Washington
2003 2,777,341 87,208,911
2004 2,970,706 93,440,674
2005 3,197,850 97,253,000
2006 3,469,257 111,442,432
2007 3,571,938 118,242,926
2008* 2,489,792 85,510,654
* January – September 2008
Source: Washington State Department of Revenue and Office of the Forecast Council
Table 10
REAL ESTATE EXCISE TAX FUND
TAXES COLLECTED
Year
Tax Collected
2003 4,733,368
2004 5,621,134
2005 7,217,272
2006 7,001,149
2007 5,612,390
2008 3,932,209
Source: Kitsap County
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