Is Port Orchard, 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, Port Orchard has remained a Seller's Market.
Key Takeaway
Port Orchard is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Port Orchard, WA
How much do homes in Port Orchard, WA cost?
Median Sold Price
$529,922
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Port Orchard have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Port Orchard was $529,922 in March 2024, up 3.9% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $253.5K | $349.9K | +38.0% |
| 2 Bedrooms | $380.7K | $439.5K | +15.4% |
| 3 Bedrooms | $475K | $506.1K | +6.6% |
| 4 Bedrooms | $539.9K | $549.9K | +1.9% |
| 5+ Bedrooms | $584.9K | $579.9K | -0.9% |
Summary: Port Orchard housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Port Orchard | $509.9K | $529.9K | +3.9% |
| Bremerton | $435K | $447.1K | +2.8% |
Housing Supply in Port Orchard, WA
How many homes are available in Port Orchard, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 284 | 304 | +7.0% |
Summary: The Port Orchard real estate market had 304 homes for sale in March 2024, a 7.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 25 | 32 | +28.0% |
| 3 Bedrooms | 133 | 144 | +8.3% |
| 4 Bedrooms | 97 | 104 | +7.2% |
| 5+ Bedrooms | 28 | 23 | -17.9% |
Summary: The Port Orchard housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 17.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 84 | +47.4% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Orchard, you may be able to get a good deal. 34.5% of homes here sold below asking price last month.
Summary: A total of 84 homes were sold or pending in Port Orchard in March 2024, up by 47.4% month-over-month. Of the 84 sold homes, 35% were sold under asking, 32% were sold at asking, and 33% were sold over asking.
Days on Market for Port Orchard, WA
How long does it take to sell a home in Port Orchard, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 44 Days | +4.7% |
Summary: Homes in Port Orchard had an average of 44 days on market in Mar 2024, up by 4.7% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Port Orchard are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 84 homes were sold in Port Orchard; 62% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 18% 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.