Is Port Townsend, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Port Townsend is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Port Townsend has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Port Townsend, WA

How much do homes in Port Townsend, WA cost?

Median Sold Price

$679,500

$386/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$29,500(+4.5%)

Key Takeaway

Homes in Port Townsend have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Port Townsend was $679,500 in May 2024, up 4.5% from last year, and the median price per square foot was $386.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $450K$449.9K
0%
2 $541.2K$640K
+18.2%
3 $690K$724.9K
+5.1%
4 $772.5K$797.5K
+3.2%
5+ $895K$1.1M
+33.8%

Summary: Port Townsend housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 33.8%.

Median Sold Price Compared To Nearby Cities

Port Townsend
+4.5%
Discovery Bay-Port Townsend
+4.3%

Housing Supply in Port Townsend, WA

How many homes are available in Port Townsend, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
63630.0%

Summary: The Port Townsend real estate market had 63 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 65
-16.7%
2 2026
+30.0%
3 3024
-20.0%
4 66
0.0%
5+ 12
+100.0%

Summary: The Port Townsend housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 30%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1618+12.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Port Townsend, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Port Townsend in May 2024, up by 12.5% month-over-month. Of the 18 sold homes, 50% were sold under asking, 28% were sold at asking, and 22% were sold over asking.

Days on Market for Port Townsend, WA

How long does it take to sell a home in Port Townsend, WA?

Average Sale Time

May 2023May 2024CHANGE
39 Days60 Days+53.8%

Summary: Homes in Port Townsend had an average of 60 days on market in May 2024, up by 53.8% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 18 homes were sold in Port Townsend; 78% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% 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 16 Days Ago

Newest Listings in Port Townsend, WA

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