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Community Spotlight: Bainbridge’s Boys & Girls Club
The Boys and Girls Club of Bainbridge Island has persevered through the pandemic and has enriched the minds of countless youth. Since 2001, our Windermere Bainbridge Island office has proudly supported the Club by donating $250 per month, or $60,000 to date. Read on to learn more about the important work that this wonderful nonprofit does right here in our community.
Boys & Girls Club During the Pandemic
Our local Boys & Girls Club provides academic, engaging, and supportive out-of-school care for Bainbridge Island youth from kindergarten through 8th grade. This organization has also been an integral part of our community’s response to COVID-19. They, along with other local organizations, provided discounted rates and extended out-of-school programming.
Not even the pandemic could stop children from safely having fun and learning at the Boys & Girls Club of Bainbridge Island. The Club implemented remote learning programs to support children during stressful times. And, peer connection, adult mentorship, and engaging activities are still part of the curriculum. As part of their new virtual initiatives, they started offering Free Youth Force Job Readiness workshops.
This past year and a half, our Boys & Girls Club transformed from an after-school care center to a full-time, safe, and reliable place for kids to learn. Additionally, they’ve provided free childcare for frontline workers’ children. They continue to innovate by working with the Bainbridge Island School District and adapting their programs to meet the changing environment.
School Year Programs
Bainbridge’s Boys & Girls Club provides fun programs throughout the school year. There’s a program for K – 4th grade and a separate middle school program for 5th – 8th grade. Club members enjoy healthy snacks and choose from three to four program options. Kids can choose anything from cooking to sports, Minecraft to drone club. There is also a PowerHour to complete homework. 5th – 8th graders participate in PowerHour every day as well as a variety of program offerings from filmmaking to learning how to play the ukulele.
Get Involved
If you have a child or children who would like to get involved with our local Boys & Girls Club, the cost varies based on the program. You can find out more on their school year programs page. They also offer full-day camps during school breaks (winter, mid-winter, and summer). To see what the Club has been up to lately, check out their Facebook page.
Whether you have young children or not, it’s easy to see the long-lasting benefits of a nonprofit organization like this. The Club’s programs give students opportunities to try new things, gain confidence, make new friends, and learn in a safe, supportive environment. Every child deserves the opportunity to thrive. The Boys and Girls Club’s mission is to continue to uplift youth and help them reach their goals. If you would like to contribute to our local Club, you can easily donate online.
Second Quarter Market Review for Bainbridge Island
Bainbridge’s real estate market exceeded expectations in our second quarter. That’s even compared to last year’s similarly strong performance. We’ve compiled key highlights to keep you in the know about our local market.
Our Strong Seller’s Market
Bainbridge Island is still an increasingly competitive market, and we just had a strong second quarter. Since Bainbridge is so close to Seattle and retains its island beauty, it continues to attract buyers moving away from bigger cities as the way we work continues to trend toward remote work. There are still many more highly motivated buyers than sellers. Inventory remains low and demand remains high. Our Brokers can help navigate this competitive market. We’ve seen continued situations where buyers are outbid either by price or by an all-cash offer. Having a local expert as your guide can help you achieve success.
In the last five quarters outlined in the graph below, the continued growth trend in sales volume for the second quarter of 2021 is even higher than 2020’s second quarter. That was during the Covid lockdowns, which prompted a surge in home buying in places outside major cities – like Bainbridge Island and beyond. 
Average Prices
With our lower supply, we continue to see even higher prices. And, still, many buyers are showing that they are willing to meet the demands of Bainbridge’s pricing. As you can see below, the listing and sale prices both continue to rise. Sellers continue to benefit from our inventory shortage.
Market Insights from Matthew Gardner
In his most recent Monday with Matthew, our Chief Economist, Matthew Gardner, begins with the staggering fact that “prices have risen almost three-fold, as the cost to finance has dropped by 72%.” If the number sounds too good (or bad) to be true, that’s because it is. To get an accurate picture, you also have to consider inflation. Gardner points out that “just like other goods and services, the price of a house today is not directly comparable to the price of that same house 30 years ago”. That’s due to the influence of inflation in the long run. When you adjust for inflation, the rise in housing prices becomes less drastic. Without adjusting for inflation, “prices have risen by 268%.” But when you adjust for inflation, the “real prices have increased by 83.6%.” Therefore, “the increase is significantly lower than most people are talking about today.” This should come as welcome news to discouraged first-time home buyers.
Gardner then compares mortgage payments. Although, without adjusting for inflation, “mortgage payments have increased by 74.3%,” the inflation-adjusted “real payments are 10.7% lower!”. Of course, there are other monthly payments associated with homeownership like property taxes. They do not change with market fluctuations. But this still indicates “that prices have been able to rise so significantly because mortgage rates have dropped.” Additionally, home prices adjusted for inflation really haven’t skyrocketed, though many seem to think so. Again, this is great news for buyers.
There are some caveats, though. Gardner clarifies that “there are some markets across the country where the picture isn’t quite as rosy. In these places, prices have risen significantly more than the national average.” The Seattle metropolitan subunit, which extends around our local area, is one of these places. This is largely from the increasing affluence in relation to the tech boom.
Not a Housing Bubble
Gardner says the bottom line is “there are quantifiable reasons to believe that we are not in a national housing bubble today. But some markets will experience a significant slowdown in price growth given where prices are today in concert with the spectre of rising mortgage rates.” Ultimately, it’s still a strong seller’s market with an overall low supply and high demand. We expect to continue to see issues with affordability as prices and mortgage rates continue to climb.
First Quarter Market Review for Bainbridge Island
Bainbridge’s real estate market is picking up after the winter slowdown. We’ve compiled key highlights from our first quarter to keep you in the know about our local island market.
Our Strong Seller’s Market
Bainbridge Island has a very competitive market right now, and we just had a strong first quarter. With Bainbridge’s quaint island feel and its proximity to Seattle, it’s very appealing to people moving away from bigger cities as COVID-19 changes the way we work. There are still many eager buyers outnumbering sellers as inventory remains low and demand remains high. Our Brokers can help navigate this competitive market. We’ve seen many situations where buyers are outbid either by price or by an all-cash offer. Having a local expert as your guide can help you achieve success.
In the last five quarters outlined in the graph below, you can see that a similar growth trend in volume is repeated when comparing 2020’s first quarter to 2021’s first quarter. We saw quite a spike this past quarter from January to March. Get ready for the market to continue to heat up as we move from spring to summer.
With our lower supply, we’re seeing even higher prices. And, many buyers are willing to meet the demands of Bainbridge’s pricing. As you can see below, the listing and sale prices both continue to rise as sellers benefit from our inventory shortage. We’re beginning to see an affordability ceiling in which some people looking to buy on Bainbridge Island aren’t able to do so.
Affordability Issues and Market Insights
Matthew Gardner, Windermere’s Chief Economist, continues to track this affordability ceiling in his most recent Housing and Economic Update: “If the pace of home price growth continues, many households will start to be priced out” of what people can actually afford. As Gardner points out, we need more supply, and we need home prices to drop to alleviate this market strain.
Unfortunately, that might not happen fast enough for many hopeful homebuyers to make their dream a reality. Gardner reminds us that the cost of materials, recent storms, and the current housing market prices have all added to the cost of building new homes. This, in turn, will add to the listing price.
Additionally, Gardner points out that mortgage rates have risen after “a jump in bond yields has led rates to spike” as the country re-opens and economic activity increases. The resulting potential inflation causes the 10-year treasury interest rates to rise in hopes of attracting more buyers. However, it is still far below standard rates and shouldn’t be a concern for buyers right now.
Ultimately, it’s still a strong Seller’s Market with an overall low supply and high demand. We expect to continue to see issues with affordability as prices continue to climb.
Community Spotlight: Bainbridge Youth Services
Since 1970, Bainbridge Youth Services (BYS) has focused on young adults’ social and emotional wellbeing. As a proud community partner, we strongly support the vital work that their staff and volunteers do. From their youth outreach events to the services they provide, they are impacting many lives.
History of Bainbridge Youth Services
In 1962, youth counseling was only available in Bremerton, making it difficult for young adults on Bainbridge Island to find mental health services. Bainbridge residents created Bainbridge Youth Services to provide a safe space for the community’s youth. BYS was monumental in supporting young adults on their mental health journey. Taking inspiration from Bremerton’s Child Guidance Center, BYS started a confidential counseling program, and their programs and events grew over time. Their offerings include Summer Work Internships in partnership with the Rotary Club of Bainbridge and the Peer Tutoring Program.
Our Windermere Bainbridge Island colleagues greatly appreciate these important programs. “I’ve worked with BYS in the past through Raising Resilience, and I’ve supported BYS’s programs and events. I see tremendous value in their on-site, free counseling services and their student empowerment events. Students have shared very moving testimonials at fundraising breakfasts,” says Broker Julie Miller, M.Ed.
Community Impact
2020 was a challenging year for many organizations across Kitsap County, but that didn’t stop BYS. In 2020, BYS shifted focus to virtual events in order to continue supporting youth on Bainbridge Island. “We have been so impressed by how the youth in Kitsap County are so resilient during the pandemic. BYS’s counseling services have given youth a safe place to explore their feelings around the pandemic, grieve over missing events, friendships, and in-person learning,” says Courtney Oliver, Executive Director of Bainbridge Youth Services. “Our youth have persevered through creative outlets like the creation of a Pandemic Bucket List and Pen Pal letters.”
In 2020, Bainbridge Youth Services provided 414 youth with counseling services and skill-building programs, served 161 students of all ages through Peer Tutoring, recognized 16 youth through the Compassionate Act Celebration, connected 118 students to Career Exploration Services, and worked with 342 parents in Parent Education programs.
On Feb. 5, 2021, over 600 community members’ decorated luminaria bags were on display in downtown Winslow for BYS’s “Hope Glows”, a free event to celebrate hope in action. Photo courtesy of BYS. View decorated luminarias.
How You Can Get Involved
Bainbridge Youth Services welcomes community members’ support. To get connected, visit their Get Involved page, where you can volunteer, share ideas, and nominate youth. “Consistently offering free counseling, employment help, tutoring and so much more has proven to literally save lives on Bainbridge Island,” says Broker Shannon Dierickx, who is a former BYS board member. “BYS believes in our youth and being a small part of this organization is one of my proudest endeavors.” Bainbridge Youth Services is part of the fabric of our strong community, and we thank all those involved for their continued efforts to support and empower future generations.
Community Spotlight: Bainbridge Island Parks Foundation
If great schools top the list of what draws new homebuyers to Bainbridge Island, great parks aren’t far behind. With more than 1,500 acres of public park land and a trails system that stretches 40 miles in all directions, exploring and enjoying Bainbridge parks goes to the very heart of island living.
Just ask Windermere Bainbridge Island Broker Jason Shutt. Serving on the board of the Bainbridge Island Parks Foundation, Jason sees firsthand the payback that comes from the community’s investment in parks and trails.
“I grew up across the street from a large urban park and spent vacations going to national parks. So recreation is in my blood,” says Jason. He lives near Winslow town center with his wife Mairead and their three children. “I joined the Parks Foundation to ensure I live in a place that gives these same opportunities to others.”
An Island Rich in Parks
The island’s sprawling park system is managed by the Bainbridge Island Metro Park & Recreation District, a municipal agency. But islanders consistently ask for amenities above and beyond what general tax funding affords. That’s where the Bainbridge Island Parks Foundation comes in.
Closely aligned with, but independent from the Park District, the nonprofit Parks Foundation has raised more than $1,000,000 in private funds over the past five years. All funds raised have been for parks and trails projects, which benefit young and old alike. The Foundation led the development of Owen’s Playground, the island’s first accessible playground for kids of all abilities, at Rotary Park.
Photos of Owen’s Playground by Leo Phillips.
The new Pickleball Founders Courts at Battle Point Park opened last summer, built by Bainbridge Island Metro Park & Recreation District with support from the Parks Foundation. The six dedicated courts and plaza are pickleball’s first-ever permanent home on Bainbridge, honoring the game that was invented on Bainbridge Island in 1965.
Founders Courts. Photo by Leo Phillips.
Various Initiatives and Programs
The Foundation’s Community Grants program has supported countless smaller projects, from the high school sailing team’s fleet to diving boards and water stations at the Aquatic Center. Joe Richards, a Windermere Bainbridge Island Managing Broker and 22-year resident, has been involved with the Aquatic Center for over nine years and knows first-hand how beneficial it is. “The Masters swimming program, under the leadership of our world-class coach April Cheadle, has exceeded anything I could have hoped for. Thank you BI Parks for providing this person, this program, and this place for our community.”
The Foundation’s support also extends to environmental stewardship and restoration year-round, from Blakely Harbor Park to the Grand Forest, to smaller neighborhood parks islandwide. This is done through the Summer Trails Crew, Nonprofits Helping Parks, and other programs.
The Foundation’s current initiative, KidsUp! The Next Generation of Play at Battle Point Park is rebuilding the original KidsUp! as another inclusive, accessible playground. The centerpiece will be a giant, one-of-a-kind ferry boat play structure with climbable Orca whales. They will be “swimming” nearby to delight and educate kids about the natural environment of the Salish Sea.
“The more you learn about the Parks Foundation, the more you have to be impressed with its impact. Serving on the Foundation board has certainly opened my eyes,” Jason says. “I’m glad to share it with my clients, colleagues in the real estate community, and anyone else who asks. We have world-class parks here, and the Bainbridge Island Parks Foundation is a big reason why.”
The Leader in Trails
When it comes to Bainbridge’s trails, you can quickly see Bainbridge Island Parks Foundation’s impact. The Foundation works with the Park District, the City of Bainbridge Island, and other stakeholders to plan and fund new trails connecting parks and neighborhoods. Soon you’ll be able to hike from Winslow all the way to Gazzam Lake Nature Preserve – an unprecedented cross-island route. It’s sure to be a real draw for visitors. And, it’s already drawing people to the island. Online guides like TripAdvisor are full of testimonials from around the country, including hikers wowed by our trails.
Current and Future Benefits
The Foundation is about to launch a major Trails Campaign. This will fund the development of 10 miles of new trails over the next five years. With museums, restaurants, and other cultural spaces largely closed down and/or limited due to the pandemic, many of us have turned to the outdoors for connection and health. No matter where you live on Bainbridge Island, there’s a park or trail near you. The Bainbridge Island Parks Foundation has probably done something to make it better.
“COVID has really brought the importance of our Bainbridge parks into focus,” says Jason, who co-chaired the Sakai Park bond campaign, to create the 23-acre park five years ago. “The lockdown and social distancing have kept us all pretty close to home for the past year. But we have our parks and trails as an outlet to stay active and healthy and grounded. Our community is extremely fortunate, and it shows what a great investment our parks have been and continue to be.”
You can find out more about the Bainbridge Island Parks Foundation on their website, and you can support a park project that’s important to you.
Learn More about Bainbridge Island
If you’d like to learn more about our wonderful island community, check out our Newcomer’s Guide to Bainbridge Island. In it, you’ll find videos, articles, and helpful links to learn about our neighborhoods, schools, outdoor activities, local home buying resources, and much more.
Fourth Quarter Review and 2021 Forecast for Bainbridge Island
Bainbridge Island’s real estate market finished 2020 with a strong fourth quarter. We’ve compiled key stats below to provide a comprehensive review of our local market, as well as insights and a 2021 market forecast from Windermere Real Estate’s Chief Economist, Matthew Gardner.
Our Strong Seller’s Market
It’s still a strong seller’s market here on Bainbridge Island. Inventory remains low while demand is high. Buyers should be aware that the market is in a seasonal slowdown, but not as slow as expected, given COVID-19. There are still many buyers looking to move away from Seattle, but still remain close by; inventory remains low, giving the advantage to sellers. Our Brokers have seen an increase in situations where some buyers are outbid either by price or an all-cash offer.
In 2020’s fourth quarter, the average sale price on Bainbridge Island was up 12.9% year-over-year at a very strong $1.315M. Sale prices continue to hover close to listing prices, indicating strong demand.
2021 Market Forecast
In his final Monday with Matthew video of 2020, our Chief Economist, Matthew Gardner, shared his 2021 market forecast. He’s optimistic and for some good reasons.
First off, Gardner expects mortgage rates will not rise significantly on a local level, nor will they vary significantly throughout different regions across the U.S. Since mortgage rates are heavily tied to 10-year treasury maturity rates/yields, rates shouldn’t rise significantly until the entire market recovers from the COVID-19 slowdown. Another great sign is that Gardner expects home sales will grow, from 5.55% in 2020 to 5.93% in 2021. That’s “to a level we haven’t seen since 2006,” Gardner explains. With the continuation of historically low mortgage rates and the consistent increase of home values, 2021 looks bright.
“No! There isn’t a housing bubble forming. But price growth will slow & sellers may feel like it’s a collapse … it isn’t collapsing, it’s just normalizing.”
Matthew reminds us that there are pitfalls to be wary of in this strong market. First and foremost: “we need more inventory.” With the shuffling to new homes, and the huge wave of “first-time buyers [that] will continue to be a major player in the housing market,” many are making moves in a flood that will not persist. Buying during the pandemic will slowly settle. People are expected to stay in their homes longer, especially homeowners who have chosen to refinance. House values will rise due to the lack of supply, and that may price out many buyers who want to purchase in our area.
Western Washington’s Market Report
WESTERN WASHINGTON HOME SALES
- Total Sales: 26.6% increase from Q4/2019, but 8.3% lower than Q3/2020
- Homes for Sale: 37.3% lower than Q4/2019, and 31.2% lower than Q3/2020
- Pending Sales: up 25% from Q4/2019, but 31% lower than Q3/2020
- Average: $617,475 (up 17.4% from Q4/2019). This continues the trend of above-average appreciation of home values.
- Interestingly, prices between Q3 and Q4 of 2020 only rose by 1%. Is there a price ceiling we’re reaching?
- Mortgage rates will stay competitive as the market continues to charge toward a price ceiling and potential affordability issues.
- Average: 31 Days (16 days less than Q4 just one year ago)
- In Kitsap County, average days on market: 17
Conclusion
2021 will continue the trend of working from home, which keeps demand high. This, in turn, will drive sales growth, while affordability barriers will balance our current runaway appreciation for home values.
New Agent Spotlight: Ashley Mathews
We’re excited to highlight our new Broker, Ashley Mathews. Highly involved in our community, Ashley is passionate about helping people. She has a background in marketing and a range of industry experiences. Read on to find out more!
What unique professional skills do you possess that enhance your abilities as a realtor?
I started working at my mom’s travel agency at around 12 years old, which taught me organization in a transactional industry. After stints as a realtor in the fast-paced New York City market, I moved on to the marketing side of the business. I am a marketer at heart and bring the combination of my marketing expertise to my transactional knowledge of real estate, which benefits my clients.
What drew you to real estate?
Real estate has been the backdrop to my life for as long as I can remember. I love the ever-changing landscape, market conditions, and being able to impact someone’s life in such a monumental way.
How long have you lived here and what brought you here?
I have lived on Bainbridge Island for 12 years. I moved here from New York City after meeting a man from Bainbridge Island. He is now my husband of ten years.
What personality traits do you think are important in this profession?
I think it’s important to be a good listener, have the ability to roll with the punches, have a good sense of humor, and possess dedication and integrity.
What area do you serve and what do you love about it?
I serve Bainbridge Island and have a great deal of first-hand knowledge of Bainbridge’s unique neighborhoods, having lived in downtown Winslow, Fletcher Bay, the Sand Spit, and Pleasant Beach. I love its beauty and the fact that it can be whatever one desires. Sometimes I enjoy its quiet serenity. Other times, I want to enjoy one of our award-winning restaurants. There is something here for everyone.
What made you decide to work with Windermere?
My passion for service has always made me a fan of the Windermere Foundation and its work. The Windermere Brokers on Bainbridge Island have such a great reputation and I wanted to be on their team. Blue is also my favorite color.
How are you involved in the community?
I serve as a board member for the Bainbridge Island Museum of Art, and I serve as Planning Commissioner for the City of Bainbridge Island. Additionally, I serve as the Chair of the Board Development Committee for Treehouse For Kids and sit on its Board of Directors Executive Committee. For over a decade, I’ve been involved in Bainbridge Island’s vibrant equestrian community and am a member of the Bainbridge Island Saddle Club. I love the arts and have performed with the Bainbridge Chorale and on the Bainbridge Performing Arts stage in “Chicago” and “Cats”. I am also a lifetime member of the NAACP.
Is there anything else you’d like to share with us?
I have a 19-year-old daughter who inspires me every day as she navigates our new normal as a college freshman, as well as a beautiful and not so smart Doberman named Grace and a beautiful and very smart horse named Nektonia. I love to meet new Islanders so if you see me come say hi. Human connection is so important these days.
We’re so glad that Ashley Mathews has joined us. We know her local expertise and her integrity make her an excellent choice for buyers and sellers. You can connect with her on Facebook or through her website.
The Windermere Difference on Bainbridge Island
Our Agents are Proud, Knowledgeable Locals
Windermere Bainbridge is so much more than a real estate company. Our 36 agents and 5 staff members are all active community members. We share a love of the Pacific Northwest and are proud of Bainbridge Island’s excellent schools and vibrant downtown with its eclectic mix of small businesses. Whether we are helping you buy your dream house or sell your island home, we are here to support you. We have a global marketing network, high quality, local vendors, and vast knowledge of the area that spans generations.
The Pearl of the Puget Sound
Bainbridge Island is a very unique place to call home. It’s nestled between the Olympic Peninsula and Puget Sound. Ideal for retirees, parents, Seattle professionals who enjoy a beautiful commute by ferry. Fill your need for adventure by exploring the Olympic National Park, kayaking or stand up paddling on the Sound, and taking advantage of nature trails that wrap around the island.
Not only is our location incredible, but the people are as well. We support our community organizations and take care of one another. If volunteering, taking care of the planet, or shopping small are activities you enjoy, Bainbridge is your place. Our Windermere Bainbridge team is highly involved in the community. You will often find our agents strolling the farmers market, enjoying Friday art walks, or participating in community events and programs.
Windermere Bainbridge: All in, for you!
We provide a range of real estate services. If you are a first-time homebuyer checking out homes for sale, we will listen to your wants and needs and help you find a home in the neighborhood that best suits you. Thinking of moving? We have agents who are relocation specialists who will support you through this transition. Perhaps you’d like to downsize, sell, or purchase an investment property. We are here for you. Many of our agents are luxury home experts who specialize in the unique needs of our premier clientele and the distinctive marketing tactics required to sell premier properties.
Our team possesses a range of 4 – 37 years in the industry with an office average of 16 years. We know the ins and outs of the island’s housing market, the current mortgage rates, and more. “All in, for you” isn’t something we simply say. We really do go above and beyond for our clients.
Learn More about Bainbridge Island
If you’d like to learn more about our wonderful island community, check out our Newcomer’s Guide to Bainbridge Island. In it, you’ll find videos, articles, and helpful links to learn about our neighborhoods, schools, outdoor activities, local home buying resources, and much more.
