Is Port Orchard, 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, 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
$534,834
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since May 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 $534,834 in May 2024, up 3.9% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $365K | +25.9% |
| 2 Bedrooms | $379.9K | $453K | +19.2% |
| 3 Bedrooms | $499.3K | $514.9K | +3.1% |
| 4 Bedrooms | $532.7K | $549.9K | +3.2% |
| 5+ Bedrooms | $560K | $599.9K | +7.1% |
Summary: Port Orchard housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 19.2%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Cities
| Bremerton | $430K | $455K | +5.8% |
| Port Orchard | $514.9K | $534.8K | +3.9% |
Housing Supply in Port Orchard, WA
How many homes are available in Port Orchard, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 385 | 391 | +1.6% |
Summary: The Port Orchard real estate market had 391 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 29 | 29 | 0.0% |
| 3 Bedrooms | 187 | 192 | +2.7% |
| 4 Bedrooms | 136 | 131 | -3.7% |
| 5+ Bedrooms | 29 | 36 | +24.1% |
Summary: The Port Orchard housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 24.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 105 | 95 | -9.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Port Orchard, expect to pay close to the asking price. 41.1% of homes here sold near the asking price last month.
Summary: A total of 95 homes were sold or pending in Port Orchard in May 2024, down by 9.5% month-over-month. Of the 95 sold homes, 18% were sold under asking, 41% were sold at asking, and 41% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 35 Days | +24.5% |
Summary: Homes in Port Orchard had an average of 35 days on market in May 2024, up by 24.5% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
12 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 May 2024, 95 homes were sold in Port Orchard; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% 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.