Pending sales in the Kitsap County real estate market surged by more than 40 percent in September compared to the same month a year ago, according to the latest report from the Northwest Multiple Listing Service.

Local brokers reported 493 pending sales this September, 114 more than the 352 reported in September 2014.

“Kitsap County leads the Puget Sound region in the dramatic increases in pending and closed sales,” said Mike Eliason, Association Executive of the Kitsap County Association of Realtors®.

Eliason noted Kitsap has benefited from the improving economy, job growth in neighboring counties, and a stabilizing workforce at Naval Base Kitsap.

Closed sales increased 13 percent in September compared to the same month a year ago, and inventory declined by 8.92 percent.  Currently, there is only a 4.09 months supply of available homes on the market.

In comparison, the Northwest Multiple Listing Service region, which includes 21 counties in Western and Central Washington, reported an overall closed sales increase of 4.60 percent in September and a 1.14 percent decline in inventory.

Industry experts generally consider a balanced marketplace to have between four and six months inventory.

The median price on closed sales last month was $249,950, a 1.91 percent increase compared to the same month last year.