Is Key Peninsula-Anderson Island, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Key Peninsula-Anderson Island is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Key Peninsula-Anderson Island has remained a Seller's Market.

Key Takeaway

Key Peninsula-Anderson Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Key Peninsula-Anderson Island, WA

How much do homes in Key Peninsula-Anderson Island, WA cost?

Median Sold Price

$489,987

$323/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,037(+5.4%)

Key Takeaway

Homes in Key Peninsula-Anderson Island have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Key Peninsula-Anderson Island was $489,987 in October 2024, up 5.4% from last year, and the median price per square foot was $323.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $269.5K$321.5K
+19.3%
2 $410K$423K
+3.2%
3 $464.9K$499.9K
+7.5%
4 $649.9K$675K
+3.9%
5+ $899.9K$1.0M
+14.0%

Summary: Key Peninsula-Anderson Island housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 14%.

Median Sold Price Compared To Nearby Cities

Lakebay
+22.5%
Vaughn
+7.7%
Gig Harbor Peninsula
+6.6%
Key Peninsula-Anderson Island
+5.4%

Housing Supply in Key Peninsula-Anderson Island, WA

How many homes are available in Key Peninsula-Anderson Island, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
143127-11.2%

Summary: The Key Peninsula-Anderson Island real estate market had 127 homes for sale in October 2024, a 11.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 65
-16.7%
2 3630
-16.7%
3 7567
-10.7%
4 2223
+4.5%
5+ 42
-50.0%

Summary: The Key Peninsula-Anderson Island housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3525-28.6%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Key Peninsula-Anderson Island, you could pay more than the asking price. 52% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in Key Peninsula-Anderson Island in October 2024, down by 28.6% month-over-month. Of the 25 sold homes, 28% were sold under asking, 20% were sold at asking, and 52% were sold over asking.

Days on Market for Key Peninsula-Anderson Island, WA

How long does it take to sell a home in Key Peninsula-Anderson Island, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
46 Days62 Days+34.8%

Summary: Homes in Key Peninsula-Anderson Island had an average of 62 days on market in Oct 2024, up by 34.8% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Key Peninsula-Anderson Island has remained consistent over time.

Summary: During October 2024, 25 homes were sold in Key Peninsula-Anderson Island; 36% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 24% 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

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