Is Oak Bay-Port Ludlow, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Oak Bay-Port Ludlow was a Seller's Market.
Key Takeaway
Oak Bay-Port Ludlow is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oak Bay-Port Ludlow, WA
How much do homes in Oak Bay-Port Ludlow, WA cost?
Median Sold Price
$600,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Oak Bay-Port Ludlow has remained the same since last year.
Summary: The median home sold price in Oak Bay-Port Ludlow was $600,000 in May 2024, up 0.4% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $517.5K | $1.0M | +108.5% |
| 2 Bedrooms | $512.8K | $582.5K | +13.6% |
| 3 Bedrooms | $660K | $638K | -3.3% |
| 4 Bedrooms | $670K | $700K | +4.5% |
| 5+ Bedrooms | - | $600K | N/A |
Summary: Oak Bay-Port Ludlow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 108.5%, 2 bedroom homes increased by 13.6%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Discovery Bay-Port Townsend | $650.7K | $679K | +4.3% |
| Oak Bay-Port Ludlow | $597.7K | $600K | 0.4% |
Housing Supply in Oak Bay-Port Ludlow, WA
How many homes are available in Oak Bay-Port Ludlow, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 76 | +35.7% |
Summary: The Oak Bay-Port Ludlow real estate market had 76 homes for sale in May 2024, a 35.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 25 | 39 | +56.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Oak Bay-Port Ludlow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 56%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Bay-Port Ludlow, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Oak Bay-Port Ludlow in May 2024, down by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% were sold over asking.
Days on Market for Oak Bay-Port Ludlow, WA
How long does it take to sell a home in Oak Bay-Port Ludlow, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 35 Days | +3.9% |
Summary: Homes in Oak Bay-Port Ludlow had an average of 35 days on market in May 2024, up by 3.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oak Bay-Port Ludlow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Oak Bay-Port Ludlow; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.