Published October 25, 2026 in Market Update

Inventory stayed very low in part of Kitsap Co Buy Box

By Thomas Earnest

Real estate, Kitsap Co Buy Box (2)

Nationally, active listings topped 1.16 million homes in September 2026, according to Realtor.com. That sounds like relief. But the Real Estate Data Aggregator counted just 5 homes for sale in ZIP 98359 (Olalla) in the three months ending August 31, 2026. That is down 50% from the same period a year before. National inventory growing does not mean your neighborhood is growing with it.

With only 1.2 months of supply, the Real Estate Data Aggregator shows Olalla is running very tight. New listings in 98359 came in at 13 for the period, down 35% from a year ago. Fewer sellers are stepping in to fill the gap.

Homes that did sell moved fast. The Real Estate Data Aggregator put the median days on market in 98359 at just 6 days. And 52.9% of homes went under contract within two weeks of listing. Buyers are not waiting around when something comes up.

Prices dipped, but sellers still got close to asking

The median sale price in Olalla was $805,000, according to the Real Estate Data Aggregator. That is down 22.6% from the same three months in 2025. That is a real drop and worth noting. Even so, sellers averaged 99.8% of their list price. Pricing carefully still matters.

Not every home sold above asking. The Real Estate Data Aggregator shows 23.1% of homes in 98359 sold above list price. That is down 31.5 points from a year ago. The over-asking frenzy has cooled, but the market is still moving.

Suquamish (98392) tells a slightly different story

The Real Estate Data Aggregator counted 5 homes for sale in ZIP 98392 (Suquamish) as well, with 2.6 months of supply. That is a little more breathing room than Olalla, but still tight. The median sale price there was $659,500, and homes sold in a median of 5 days.

In Suquamish, 33.3% of homes sold above list price, per the Real Estate Data Aggregator. That is higher than Olalla. The Real Estate Data Aggregator also counted 11 new listings and 9 pending sales in 98392 for the period. Demand is holding up in both areas.

The wider picture adds pressure

Realtor.com reported mortgage rates climbed above 7% for the first time since January 2025. That raises the monthly cost for buyers. CNBC reported that a monthly payment on a median-priced home took up 33% of a median family's income in 2025. That was 26% in 2022. Buyers are stretching further than they were a few years ago.

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Local prices in Olalla moved differently. What happens nationally and what happens on one street in Kitsap County are two separate things.