Silverdale, WA Real Estate Market Prices, Trends, & Forecasts 2023

The unincorporated community of Silverdale, Washington, is an idyllic location for those looking to be near enough to the hustle and bustle of big city life in Seattle while having a quiet, safe haven to retreat to at the end of the day. As such, the Silverdale, WA, real estate market is thriving — most residents own their own homes, and each house has a unique character to fall in love with.

It is no wonder the market trends in Silverdale, Washington, have remained high. It has a pretty little downtown, classic suburban streets to stroll down, and a school district to be proud of. Homeowners enjoy visiting Old Town Silverdale to grab a crepe, book an appointment at one of the upscale salons, or just wander over to Old Mill Park with a fresh coffee in hand to walk the Clear Creek Trail. Homes for sale in Silverdale, WA, are always delightful to explore. When you are armed with the most up-to-date information on the market and a savvy realtor, you are sure to find the right house for your needs in this waterfront community.

While it is impossible to know for sure what is coming, the housing market trends in Silverdale look strong. As Forbes reports, Silverdale has seen a consistent increase in housing prices over the last decade, like many of Seattle’s surrounding cities. Though some of those cities have seen a slight decline in the last year, Silverdale is not one of them.

Indeed, this quiet community saw an increase of more than $100,000 in median sale price from October 2021 to October 2022, and the housing inventory has not increased, which has meant a tight market for those interested in finding a way in.

While interest rates have steadily risen over the last year, driving housing prices down, that trend has certainly affected Silverdale. Interest rates are expected to go down, which may mean a continued increase in home values here or, at the very least, a leveling off. As market trends go, there is no reason to suspect any change in interest rates will drive housing prices down in Silverdale.

It is important to note that as real estate investing goes, Silverdale is a community rich in home ownership with very few rentals, likely because those looking for long-term rentals are seeking locations closer to Seattle proper.

However, a house for sale in Silverdale may be worth the investment as a short-term rental opportunity.

In the last decade, the population of Silverdale has steadily risen, only seeing a slight decline in the last couple of years, likely due to the pandemic. In 2010, the population was 251,681, and last year, in 2022, the population had reached 272,968, for an overall increase of more than 20,000 residents.

The ongoing technology boom in Seattle and the flight from California to the Pacific Northwest will likely only continue to feed communities like Seattle and Portland.

Silverdale is one of the three cities that makes up Kitsap County, a location that has seen tremendous population growth and a rise in housing prices overall in the last decade.  
In April 2023 alone, the median home price listed was $609,450, a year-over-year increase of 1.1%. It has been a seller’s market for many years, and as of now, there is no reason to think that will change, making it an excellent investment either for a homeowner or an investor.

Thanks to the stability of the employment market for homeowners, buyers, and sellers in Silverdale, COVID-19 barely affected the real estate market. It remains the same seller’s market it has been for years. We still see a strong economy and tight housing market, likely because many residents in Kitsap County, including Silverdale, are essential workers, many working either in healthcare or on the local naval base.

As of April 2023, the median home price listed in Silverdale for $609,000, about the same as April 2022, with an average of 100 homes actively for sale. The average number of days a house in Silverdale sits on the market has increased to 69 days from 23 days last year, primarily due to the rise in interest rates.

Overall, Silverdale real estate is a worthy investment for a homeowner or short-term rental landlord. Long-term rentals may not earn enough revenue or garner enough interest to make investing worth it from that angle, but there are always exceptions and workarounds, depending on the angle you take.

Today, the most desirable places to live in Silverdale are in the northeast, while the more affordable houses will be found in the northwest. Still, this comparison is splitting hairs as Silverdale, in general, is one of the best places to live in the entire state of Washington.

There are two areas homeowners may gravitate. Residents will either long to be close to the water, situated along the Dyes Inlet, in which case you will have access to the waterfront around Old Town, Silverdale Waterfront Park, and Old Mill Park, or near the highways for quick travel. Highway 303 and 3 both cut through town and will allow fast travel of the peninsula to head out to Seattle, toward the coast, north toward Canada, or south to Portland.

Those who seek a much quieter space away from it all will look for homes farther north, either east or south, where the sleepy residential areas are situated around Island Lake and its lovely beach and park areas.

In the end, finding the right home, getting the right price, and settling into the right location, hinges largely on working with a realtor who works for you. With years of knowledge in the real estate market in Kitsap County and a dedication to ensuring my client’s satisfaction and exceeding your expectations, Rebecca will make your home-buying experience in Silverdale and our surrounding communities a smooth and easy process. Contact her today to get started.