Is Port Orchard, 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, 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
$529,986
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since April 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 $529,986 in April 2024, up 3.9% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $253.5K | $319.9K | +26.2% |
| 2 Bedrooms | $374.9K | $448.5K | +19.6% |
| 3 Bedrooms | $477.5K | $511K | +7.0% |
| 4 Bedrooms | $536.2K | $544.9K | +1.6% |
| 5+ Bedrooms | $560K | $584.9K | +4.5% |
Summary: Port Orchard housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.2%, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Bremerton | $431.5K | $450K | +4.3% |
| Port Orchard | $509.9K | $529.9K | +3.9% |
Housing Supply in Port Orchard, WA
How many homes are available in Port Orchard, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 330 | 338 | +2.4% |
Summary: The Port Orchard real estate market had 338 homes for sale in April 2024, a 2.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 31 | 30 | -3.2% |
| 3 Bedrooms | 157 | 177 | +12.7% |
| 4 Bedrooms | 113 | 107 | -5.3% |
| 5+ Bedrooms | 27 | 20 | -25.9% |
Summary: The Port Orchard housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 12.7%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 25.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 97 | 96 | -1.0% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Orchard, you could pay more than the asking price. 36.5% of homes here sold above asking price last month.
Summary: A total of 96 homes were sold or pending in Port Orchard in April 2024, down by 1.0% month-over-month. Of the 96 sold homes, 29% were sold under asking, 34% were sold at asking, and 36% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 27 Days | -18.9% |
Summary: Homes in Port Orchard had an average of 27 days on market in Apr 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 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 April 2024, 96 homes were sold in Port Orchard; 76% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 9% 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.