Team Luxe Real Estate | Market Insights
Gig Harbor, WA
Single-Family Homes
206-672-5724 | https://teamluxere.com/
Gig Harbor, WA
Thu May 15 2025
This week the median list price for Gig Harbor, WA is $1,100,000 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has increased to 113.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,100,000 | |
| Median Price of New Listings | $869,475 | |
| Per Square Foot | $407 | |
| Average Days on Market | 64 | |
| Median Days on Market | 28 | |
| Price Decreased | 35% | |
| Price Increased | 2% | |
| Relisted | 3% | |
| Inventory | 113 | |
| Median Rent | ||
| Market Action | 44 | |
| Slight Seller's Advantage | ||
Price trends continued their recent uptrend this week. While still below the market’s high point, we may be seeing the start of a good price stretch here.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,547,500 | 4,107 | 0.5 - 1 acre | 4 | 2.5 | 32 | 2 | 4 | 45 |
| $1,412,500 | 2,999 | 0.5 - 1 acre | 3 | 2.5 | 37 | 4 | 2 | 24 |
| $968,499 | 2,777 | 0.5 - 1 acre | 4 | 2.5 | 29 | 5 | 3 | 31 |
| $700,000 | 1,846 | 0.25 - 0.5 acre | 3 | 2 | 32 | 11 | 8 | 7 |