Home values by Gig Harbor Neighborhood
For my weekly review of the Gig Harbor real estate market, I wanted to take a look at our first quarter statistics broken down by neighborhood. Last week I posted an article showing some heavy declines in numbers of houses sold, and moderate declines in selling prices, for all of the Gig Harbor area, plus some of the neighboring areas. I wanted to see if any areas within Gig Harbor were more sheltered or hit harder by these trends.
In the NWMLS, Gig Harbor is divided into 6 different areas (not counting the Key Peninsula, which is an additional 3 areas). I don’t know why it’s done this way, but it is! Here’s a look at the 6 Gig Harbor real estate areas from the first quarter of ‘07 versus the first quarter of ‘08.
|
Area |
# Sales’07 | Median $ | DOM | # Sales ‘08 | Median $ | DOM |
| 1 | 10 | $432,500 | 28 | 9 | $485,000 | 79 |
| 3 | 15 | $599,000 | 103 | 3 | $540,000 | 253 |
| 5 | 11 | $465,000 | 119 | 7 | $440,000 | 100 |
| 6 | 37 | $429,000 | 59 | 24 | $367,500 | 66 |
| 7 | 34 | $463,250 | 104 | 13 | $405,000 | 108 |
| 8 | 39 | $464,000 | 99 | 26 | $437,500 | 133 |
Area 1 is Downtown Gig Harbor/Peacock Hill. 3 is Rosedale area, 5 is Fox Island, 6 is Wollochet/Pt. Fosdick, 7 is Cromwell/Kopachuck, and 8 is North and East Gig Harbor. For more information on this area, or for specifics on your exact neighborhood, please give me a call.
