Gig Harbor Real Estate Market Stabilizing
Each week I track what the local real estate market is doing in terms of numbers of units coming for sale and number of units being sold. Thus far in 2008, the number of available units has been growing weekly, while the number of units pending sales has been stable or even decreasing.
The past few weeks, however, have shown that the number of available units has stabilized while the number of homes selling has increased. This is good news, as the number of houses selling in Gig Harbor, Port Orchard, and the surrounding areas is now keeping pace with the new listings. The top chart below shows the total numbers of homes pending sales in Gig Harbor, Port Orchard, and the Key Peninsula. The bottom chart shows the total number of homes listed for sale. These numbers are for single family homes only, not condos or multi-units. I have no idea what caused the spike in pending sales in Port Orchard three weeks ago.
If you have any questions on these numbers, or would like information on specific neighborhoods, please give me a call. Numbers are taken from the NWMLS and are reliable, but not guaranteed.
March 31st, 2008 at 8:20 pm
A lot of military live in/around Port Orchard. Perhaps some people are being redeployed?
March 31st, 2008 at 10:55 pm
Certainly a possibility, though I think that would show up affecting the new homes listed as opposed to homes pending sales. Very good possibility, though.