Is Gig Harbor, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Gig Harbor has remained a Seller's Market.
Housing Prices in Gig Harbor, WA
How much do homes in Gig Harbor, WA cost?
Median Sold Price
$771,666
$353/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Gig Harbor was $771,666 in February 2024, down 3.1% from last year, and the median price per square foot was $353.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $745K | $565K | -24.2% |
2 Bedrooms | $600K | $587.5K | -2.1% |
3 Bedrooms | $739.5K | $707.7K | -4.3% |
4 Bedrooms | $867.8K | $1.0M | +15.2% |
5+ Bedrooms | $800K | $899.9K | +12.5% |
Summary: Gig Harbor housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.2%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
Gig Harbor Peninsula | $840K | $825.8K | -1.7% |
Gig Harbor | $796K | $771.6K | -3.1% |
Housing Supply in Gig Harbor, WA
How many homes are available in Gig Harbor, WA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
173 | 192 | +11.0% |
Summary: The Gig Harbor real estate market had 192 homes for sale in February 2024, a 11.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 20 | 22 | +10.0% |
3 Bedrooms | 91 | 107 | +17.6% |
4 Bedrooms | 54 | 48 | -11.1% |
5+ Bedrooms | 8 | 15 | +87.5% |
Summary: The Gig Harbor housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 87.5%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
35 | 43 | +22.9% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Gig Harbor in February 2024, up by 22.9% month-over-month. Of the 43 sold homes, 56% were sold under asking, 23% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
58 Days | 75 Days | +27.9% |
Summary: Homes in Gig Harbor had an average of 75 days on market in Feb 2024, up by 27.9% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During February 2024, 43 homes were sold in Gig Harbor; 60% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.