Bainbridge Real Estate Market Update: Q1 2025 Data

As winter recedes and the spring selling season begins, Bainbridge Island’s real estate market shows resilience. Buyers and sellers entered 2025 with elevated but easing mortgage rates, a strong Seattle economy and sustained demand for island living. Although the first quarter is historically quieter due to weather and holidays, this year’s data reveal important trends.

Sales Volume & Demand

Bainbridge Island recorded 59 closed residential sales (single-family homes and condominiums) during Q1 2025. While lower than the activity seen in late spring and summer, this volume reflects steady demand despite seasonal slowdowns. Competition remained strong for well-priced homes in desirable locations; multiple offers were common for turn-key properties with modern amenities.

Prices & Appreciation

The median sale price averaged around $1.4 million in Q1, with average sale prices tracking very closely to that figure. Prices softened slightly compared with late 2024, but there is no sign of a broad correction. Demand for waterfront estates, modern farmhouses and homes with ADUs continues to outstrip supply. Entry-level properties under $1 million remain scarce, which is keeping prices elevated in that segment.

Days on Market & Inventory

Homes sold more quickly in Q1 2025 than a year earlier. The average days on market fell to about 58 days, and the median days on market was roughly 32 days. This reduction suggests that motivated buyers are ready to act when they find the right home. Active listings averaged around 48 properties during the quarter, translating to roughly 2.8 months of inventory—a level that still favors sellers but gives buyers more choice than during the post‑pandemic frenzy.

What This Means for Sellers

For sellers, these indicators point to a healthy but competitive market. Pricing your home correctly is crucial: overpricing can cause your home to linger, but strategically pricing in line with current comparables can attract multiple offers. Staging and professional photography remain key to maximizing appeal. If you have a unique property—waterfront, acreage or an ADU—market demand remains particularly strong.

What This Means for Buyers

Buyers should be prepared for swift decision-making, especially for homes priced under $1 million. Securing financing pre‑approval and working with a local agent who can alert you to off‑market or coming‑soon listings will give you an edge. Expect some negotiation room on luxury properties, but be realistic about paying close to list price on entry‑level homes.

Looking Ahead

As we move into the second quarter, inventory is expected to rise and mortgage rates may ease further. Continued job growth in the Puget Sound region and Bainbridge’s enduring lifestyle appeal suggest that demand will stay robust. Whether you’re considering buying, selling or simply curious about how these trends affect your plans, I’m here to help. Let’s connect to discuss your goals and how we can navigate the Bainbridge Island market together.