Is Oak Harbor, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Harbor is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Oak Harbor has remained a Seller's Market.

Key Takeaway

Oak Harbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Oak Harbor, WA

How much do homes in Oak Harbor, WA cost?

Median Sold Price

$494,999

$295/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$39,999(+8.8%)

Key Takeaway

Homes in Oak Harbor have sold for 8.8% more than they did a year ago.

Summary: The median home sold price in Oak Harbor was $494,999 in May 2024, up 8.8% from last year, and the median price per square foot was $295.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $220K$367.5K
+67.0%
2 $343K$396K
+15.5%
3 $457.6K$490K
+7.1%
4 $540K$595.4K
+10.3%
5+ $543.5K$515K
-5.2%

Summary: Oak Harbor housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes decreased by 5.2%.

Median Sold Price Compared To Nearby Cities

Oak Harbor
+8.8%
North Whidbey Island
+5.5%

Housing Supply in Oak Harbor, WA

How many homes are available in Oak Harbor, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
161184+14.3%

Summary: The Oak Harbor real estate market had 184 homes for sale in May 2024, a 14.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 35
+66.7%
2 3037
+23.3%
3 9898
0.0%
4 2738
+40.7%
5+ 36
+100.0%

Summary: The Oak Harbor housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 23.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3654+50.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Harbor, expect to pay close to the asking price. 35.2% of homes here sold near the asking price last month.

Summary: A total of 54 homes were sold or pending in Oak Harbor in May 2024, up by 50.0% month-over-month. Of the 54 sold homes, 31% were sold under asking, 35% were sold at asking, and 33% were sold over asking.

Days on Market for Oak Harbor, WA

How long does it take to sell a home in Oak Harbor, WA?

Average Sale Time

May 2023May 2024CHANGE
32 Days35 Days+7.1%

Summary: Homes in Oak Harbor had an average of 35 days on market in May 2024, up by 7.1% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Oak Harbor are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 54 homes were sold in Oak Harbor; 74% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Oak Harbor, WA

Nearby Markets to Oak Harbor, WA

What housing markets are near Oak Harbor, WA?