Is Silverdale WA 98383 Housing Market About to SKYROCKET?

Silverdale Real Estate Update (98383): What the Data Says Right Now

Silverdale, Washington is one of those Kitsap County markets people keep asking about. It sits in the 98383 zip code and covers more than just the core of Silverdale. This area includes neighborhoods like Sunset Farm, Lofall’s Beach, Olympic View, and parts of Bangor. Because the zip code stretches across a broad mix of home types and price points, the data can feel a little choppy month to month. That’s why it helps to look at both monthly trends and rolling 12 month numbers to see the real story.

Let’s dig into what is happening with prices, inventory, demand, and where the market may be headed.

Prices are rising, but barely beating inflation

Last month, the median price in Silverdale was about $654,000, while the average price came in around $606,000. The monthly numbers show the average price dipping slightly while the median bumped up a bit. That mix usually signals price reductions on the higher end, while the middle of the market stays supported.

When you smooth things out using a rolling 12 month view, the trend becomes clearer:

• Median price is up 2.2% year to date
  
  
• Average price is up 3.5% year to date
  
  

Those numbers are basically matching inflation. That is slower than normal appreciation for this region. It does not suggest a crash. It simply confirms what buyers and sellers have felt all year: higher rates for longer have cooled the market.

Rates are the big piece that could change the story

The 10 year Treasury is still trending down year to date. That matters because it sets the baseline for long term mortgage pricing. In today’s market, the spread between the 10 year Treasury and a typical 30 year fixed mortgage is roughly 2.3%. As Treasury yields fall, debt gets cheaper across the board. Mortgages, HELOCs, auto loans, business credit, everything.

The market is also pricing in more rate cuts:

• October rate cut odds around 98%
  
  
• December odds around 92%
  
  

That implies the market expects about a half percent drop in rates by the end of the year. Once mortgage rates move closer to 6%, demand usually picks up. If this trend holds, spring 2026 could be noticeably hotter than today, especially in places like Silverdale where buyers have been waiting on the sidelines.

Inventory is rising faster than sales

This is the biggest shift happening in 98383 right now.

On a rolling 12 month basis:

• New listings are up 12.7%
  
  
• Homes for sale are up 24%
  
  
• Pending sales are only up 3.9%
  
  
• Closed sales are up 9.3%
  
  

That gap tells you inventory is not being absorbed quickly. More homes are coming online, but buyers are not moving fast enough to keep pace. That is why market time is stretching out.

Days on market are back to normal, not scary

Average days on market are around 45 to 50 days. That is roughly two months to sell.

A lot of newer buyers and newer agents still have “recency bias” from the overheated 2020 to 2022 window, when homes sold in two weeks. Silverdale today is not that environment. It is closer to a normal seller’s market, just cooler and more negotiable.

Months of supply is sitting around 3.3 months. That is still technically a seller’s market. It is just not a white hot one.

Buyers are getting discounts again

The percent of original list price shows what buyers are actually paying compared to asking price. Last month, the average buyer paid about 96.5% of list price.

That means if a property was listed at $100,000 (for easy math), it sold for roughly $96,500. In real terms, buyers are getting around 3 to 4% off list price in the current environment.

This is also seasonal. Discounts tend to widen during fall and winter, and tighten again once spring demand returns.

Sellers need to price and position correctly

The showings data makes the market message pretty blunt.

• It takes about 11 showings for a home to go pending
  
  
• The average listing is only getting about 3.3 showings
  
  

If a home is not getting showing traffic, the market is rejecting something. Usually it is price, condition, or positioning. Sometimes it is marketing. In a slower season, even a good house will sit if the pricing is ambitious compared to the comps.

What this means if you are buying or selling

If you are a buyer or investor:
This is deal season. Inventory is up, market time is longer, and list price ratios are lower. You have more room to negotiate now than you likely will once rates drop and spring demand returns.

If you are a seller:
You can still sell in this market, but you need sharper pricing and strong presentation. If you are flexible on timing and trying to maximize price, spring 2026 may give you a better runway if rate cuts continue.

The bottom line for Silverdale (98383)

Silverdale is cooling, not collapsing. Prices are inching up at about the pace of inflation, inventory is rising, and buyers are negotiating more than they could a year ago. The next big inflection point is rates. If the Treasury trend and Fed cuts keep moving in the direction the market expects, Silverdale should see stronger demand heading into spring.

If you want a deeper breakdown of a specific neighborhood inside 98383, or a home type you are targeting, drop the area or question and we can go another layer down.