Team Luxe Real Estate | Market Insights
Port Townsend, WA
Single-Family Homes
206-672-5724 | https://teamluxere.com/
Port Townsend, WA
Sun Dec 22 2024
This week the median list price for Port Townsend, WA is $799,000 with the market action index hovering around 38. This is an increase over last month's market action index of 37. Inventory has decreased to 38.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.
Real-Time Market Profile
| Median List Price | $799,000 | |
| Median Price of New Listings | $812,000 | |
| Per Square Foot | $392 | |
| Average Days on Market | 97 | |
| Median Days on Market | 77 | |
| Price Decreased | 45% | |
| Price Increased | 3% | |
| Relisted | 0% | |
| Inventory | 38 | |
| Median Rent | ||
| Market Action | 38 | |
| Slight Seller's Advantage | ||
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,950,000 | 3,463 | 0.5 - 1 acre | 3 | 2.5 | 35 | 1 | 0 | 126 |
| $850,000 | 2,188 | 0.25 - 0.5 acre | 3 | 2 | 25 | 1 | 1 | 77 |
| $730,000 | 2,247 | 0.25 - 0.5 acre | 3 | 2 | 34 | 1 | 1 | 42 |
| $550,000 | 1,452 | 0.25 - 0.5 acre | 2 | 1.5 | 23 | 1 | 5 | 77 |