Is Gig Harbor, 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 has remained a Seller's Market.
Key Takeaway
Gig Harbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gig Harbor, WA
How much do homes in Gig Harbor, WA cost?
Median Sold Price
$773,575
$356/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gig Harbor have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Gig Harbor was $773,575 in March 2024, down 1.1% from last year, and the median price per square foot was $356.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $745K | $565K | -24.2% |
| 2 Bedrooms | $594.7K | $570K | -4.2% |
| 3 Bedrooms | $739K | $705.5K | -4.5% |
| 4 Bedrooms | $869.5K | $1.0M | +19.7% |
| 5+ Bedrooms | $799.9K | $914.1K | +14.3% |
Summary: Gig Harbor housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.2%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Cities
| Gig Harbor Peninsula | $835.8K | $838.6K | 0.3% |
| Gig Harbor | $781.8K | $773.5K | -1.1% |
Housing Supply in Gig Harbor, WA
How many homes are available in Gig Harbor, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 192 | 222 | +15.6% |
Summary: The Gig Harbor real estate market had 222 homes for sale in March 2024, a 15.6% 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 | 20 | 26 | +30.0% |
| 3 Bedrooms | 109 | 128 | +17.4% |
| 4 Bedrooms | 48 | 50 | +4.2% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The Gig Harbor 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 30%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 58 | +26.1% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gig Harbor, you may be able to get a good deal. 39.7% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Gig Harbor in March 2024, up by 26.1% month-over-month. Of the 58 sold homes, 40% were sold under asking, 40% were sold at asking, and 21% were sold over asking.
Days on Market for Gig Harbor, WA
How long does it take to sell a home in Gig Harbor, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 71 Days | +55.8% |
Summary: Homes in Gig Harbor had an average of 71 days on market in Mar 2024, up by 55.8% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gig Harbor are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 58 homes were sold in Gig Harbor; 50% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 36% 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.