Team Luxe Real Estate | Market Insights
Gig Harbor, WA
Single-Family Homes
206-672-5724 | https://teamluxere.com/
Gig Harbor, WA
Sun Dec 22 2024
This week the median list price for Gig Harbor, WA is $1,099,000 with the market action index hovering around 44. This is an increase over last month's market action index of 43. Inventory has decreased to 85.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $1,099,000 | |
| Median Price of New Listings | $752,000 | |
| Per Square Foot | $391 | |
| Average Days on Market | 104 | |
| Median Days on Market | 63 | |
| Price Decreased | 45% | |
| Price Increased | 4% | |
| Relisted | 8% | |
| Inventory | 85 | |
| Median Rent | ||
| Market Action | 44 | |
| Slight Seller's Advantage | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,450,000 | 4,754 | 0.25 - 0.5 acre | 4 | 5 | 30 | 0 | 2 | 84 |
| $1,284,990 | 3,201 | 1 - 2.5 acres | 3 | 3 | 30 | 1 | 1 | 63 |
| $849,000 | 2,470 | 0.5 - 1 acre | 3 | 3 | 30 | 2 | 6 | 49 |
| $522,500 | 1,689 | 0.25 - 0.5 acre | 3 | 2 | 39 | 3 | 2 | 73 |