Is Gig Harbor, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Gig Harbor has remained a Seller's Market.
Housing Prices in Gig Harbor, WA
How much do homes in Gig Harbor, WA cost?
Median Sold Price
$778,356
$362/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gig Harbor was $778,356 in May 2024, down 2.7% from last year, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $685K | $547K | -20.1% |
2 Bedrooms | $645K | $570K | -11.6% |
3 Bedrooms | $729K | $721.2K | -1.1% |
4 Bedrooms | $885K | $1.0M | +18.6% |
5+ Bedrooms | $887.9K | $950K | +7.0% |
Summary: Gig Harbor housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.1%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
Gig Harbor Peninsula | $819.6K | $844.3K | +3.0% |
Gig Harbor | $799.9K | $778.3K | -2.7% |
Housing Supply in Gig Harbor, WA
How many homes are available in Gig Harbor, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
235 | 273 | +16.2% |
Summary: The Gig Harbor real estate market had 273 homes for sale in May 2024, a 16.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 29 | 31 | +6.9% |
3 Bedrooms | 132 | 147 | +11.4% |
4 Bedrooms | 54 | 73 | +35.2% |
5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The Gig Harbor housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 35.2%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
68 | 70 | +2.9% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Gig Harbor in May 2024, up by 2.9% month-over-month. Of the 70 sold homes, 41% were sold under asking, 31% were sold at asking, and 27% were sold over asking.
Days on Market for Gig Harbor, WA
How long does it take to sell a home in Gig Harbor, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 30 Days | +30.0% |
Summary: Homes in Gig Harbor had an average of 30 days on market in May 2024, up by 30% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 70 homes were sold in Gig Harbor; 66% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.