Is Oak Bay-Port Ludlow, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oak Bay-Port Ludlow has remained a Seller's Market.
Key Takeaway
Oak Bay-Port Ludlow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oak Bay-Port Ludlow, WA
How much do homes in Oak Bay-Port Ludlow, WA cost?
Median Sold Price
$600,000
$300/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in Oak Bay-Port Ludlow has remained the same since last year.
Summary: The median home sold price in Oak Bay-Port Ludlow was $600,000 in April 2024, the same as last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $505K | $998K | +97.6% |
| 2 Bedrooms | $518.9K | $570K | +9.8% |
| 3 Bedrooms | $667.5K | $610K | -8.6% |
| 4 Bedrooms | $680K | $635K | -6.6% |
| 5+ Bedrooms | - | $600K | N/A |
Summary: Oak Bay-Port Ludlow housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 97.6%, 2 bedroom homes increased by 9.8%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Nordland | $600K | $840K | +40.0% |
| Discovery Bay-Port Townsend | $650.7K | $682.3K | +4.9% |
| Oak Bay-Port Ludlow | $600K | $600K | 0.0% |
Housing Supply in Oak Bay-Port Ludlow, WA
How many homes are available in Oak Bay-Port Ludlow, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 58 | +16.0% |
Summary: The Oak Bay-Port Ludlow real estate market had 58 homes for sale in April 2024, a 16.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 26 | 28 | +7.7% |
| 4 Bedrooms | 4 | 9 | +125.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Oak Bay-Port Ludlow housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 125%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Bay-Port Ludlow, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Oak Bay-Port Ludlow in April 2024, up by 50.0% month-over-month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% were sold over asking.
Days on Market for Oak Bay-Port Ludlow, WA
How long does it take to sell a home in Oak Bay-Port Ludlow, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 69 Days | +64.0% |
Summary: Homes in Oak Bay-Port Ludlow had an average of 69 days on market in Apr 2024, up by 64% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oak Bay-Port Ludlow are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Oak Bay-Port Ludlow; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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.