Is Gig Harbor Peninsula, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Gig Harbor Peninsula has remained a Seller's Market.
Key Takeaway
Gig Harbor Peninsula is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gig Harbor Peninsula, WA
How much do homes in Gig Harbor Peninsula, WA cost?
Median Sold Price
$838,664
$366/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Gig Harbor Peninsula has remained the same since last year.
Summary: The median home sold price in Gig Harbor Peninsula was $838,664 in March 2024, up 0.3% from last year, and the median price per square foot was $366.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $825K | $770K | -6.7% |
| 2 Bedrooms | $560K | $617.5K | +10.3% |
| 3 Bedrooms | $750K | $765K | +2.0% |
| 4 Bedrooms | $998.5K | $1.0M | +7.4% |
| 5+ Bedrooms | $964K | $917.9K | -4.8% |
Summary: Gig Harbor Peninsula housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Gig Harbor Peninsula | $835.8K | $838.6K | 0.3% |
| Gig Harbor | $781.8K | $773.5K | -1.1% |
| Key Peninsula-Anderson Island | $470K | $463.3K | -1.4% |
Housing Supply in Gig Harbor Peninsula, WA
How many homes are available in Gig Harbor Peninsula, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 168 | 201 | +19.6% |
Summary: The Gig Harbor Peninsula real estate market had 201 homes for sale in March 2024, a 19.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 13 | 20 | +53.8% |
| 3 Bedrooms | 93 | 111 | +19.4% |
| 4 Bedrooms | 47 | 51 | +8.5% |
| 5+ Bedrooms | 15 | 17 | +13.3% |
Summary: The Gig Harbor Peninsula housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 53.8%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 40 | 51 | +27.5% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gig Harbor Peninsula, expect to pay close to the asking price. 41.2% of homes here sold near the asking price last month.
Summary: A total of 51 homes were sold or pending in Gig Harbor Peninsula in March 2024, up by 27.5% month-over-month. Of the 51 sold homes, 39% were sold under asking, 41% were sold at asking, and 20% were sold over asking.
Days on Market for Gig Harbor Peninsula, WA
How long does it take to sell a home in Gig Harbor Peninsula, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 77 Days | +76.7% |
Summary: Homes in Gig Harbor Peninsula had an average of 77 days on market in Mar 2024, up by 76.7% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gig Harbor Peninsula are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 51 homes were sold in Gig Harbor Peninsula; 49% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 37% 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.