This article first appeared in Realogics Sotheby’s International Realty’s 2023 Forecast Report. To get your digital or print copy of this comprehensive look at the Pacific Northwest’s ever-changing residential real estate landscape click here.
The Kitsap Peninsula is dotted with hidden gems. Is it possibly Washington’s best-kept secret? With a flourishing downtown, its Nordic roots on full display, and easy access to the waterfront, Poulsbo is the kind of town that woos visitors into becoming life-long residents. Its cost of living is less than Bainbridge Island to the southeast, it offers traditional Craftsman and Bungalow homes near downtown, as well as more private residences farther outside of its city center, and of course, ample waterfront opportunity, whether you may be looking for deep water to moor a boat, or just breathtaking waterfront views of Liberty Bay.
One of Poulsbo’s most distinguishing features is the downtown and waterfront’s dedication to its Nordic heritage. While Seattle’s Nordic Museum tells a similar story of migration, Poulsbo has embraced the Nordic culture through architectural nods, baked goods, and multi-day festivals that the in-city stylings of Ballard have turned away from during a surge of in-city growth. The parallel here between the two communities is quite apparent. As the pandemic opened the door for remote work, those who seek a life near the water with Scandinavian conveniences and a calmer pace of growth may look no further than Poulsbo itself.
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While Poulsbo’s school districts aren’t recognized as the top in the state, websites including niche.com have recognized its public education for its achievements in college preparedness. As evident from its local events, the community values tradition, art, and a thriving business community, as well.
Between 2010 and 2021, the population of Poulsbo grew by 26.74%. The only Kitsap community that saw more growth was Port Orchard, and across Kitsap County, the population grew by just under 10%. The pace and community of Poulsbo have made it welcoming to retirees, with 21.6% of residents 65 years old or older, it’s a slightly older population than Kitsap County as a whole. That shouldn’t discourage the benefits of this calm pace of living to any who might desire calm morning strolls along Liberty Bay, or who want to take advantage of the city parks or longer hikes at other Kitsap County outdoor respits.
You can always change and update your home’s wall color, fixtures and appliances, and in many cases, you can adjust the layout and the floor plan of your home. But when you purchase a home, you are choosing a city, town, neighborhood—and these aren’t as easy to update with a paint sample and a brush.
Where you live matters. In 2023, we’re focusing on five different communities across the Puget Sound that offer specific opportunities for new residents. For some, it’s a rare influx of housing availability, for others it’s about yet-untapped city growth or the anticipation of equity gains in a transitioning city center, and for some the focus is on the unique opportunities that offer a lifestyle unlike any other across the region.
The real market that matters is the one that you live in, move to, work in, or retreat to when you’re ready for an escape.
We invite you to explore these communities and imagine your day-to-day in a different locale. As you think about your next destination, whatever your home goals may be, discuss with your Realogics Sotheby’s International Realty real estate advisor what you want out of your next neighborhood—our local expertise could help you find a hidden gem in an unexpected location.