Port Orchard Home Sales Excelling
Each week I track the real estate market in Gig Harbor, Port Orchard, and the Key Peninsula. I like to look at how many homes were listed for sale, and how many homes received acceptable offers and are now pending sales. Gig Harbor’s homes for sale is pretty consistently outrunning the number of homes actually selling in the Harbor. Key Peninsula maintains a pretty steady line, not seeing much fluctuation but rather a steady increase of homes for sale.
Port Orchard seems to be the hot place to buy a home in our area. There are several potential reasons. Port Orchard is very close to Gig Harbor. 
The home I have listed in Southlake Ridgeis only 12 minutes from the Gig Harbor Costco, YMCA, Target, etc at Gig Harbor North. Port Orchard is also close to the ferry for those who work in Seattle. You’ll most likely get more for your money in Port Orchard. It obviously depends on the neighborhood, but I’d imagine that the Southlake Ridge home I have listed at $485,950 would be around $550,000 in a comparable Gig Harbor neighborhood. That’s obviously speculation, but basing it off of the size and year built, that’s a safe guess. Taxes in Port Orchard will be significantly lower than Gig Harbor as well (probably about $2000 per year less on a home such as the sample I’ve used).
Here’s a look at the total homes for sale and the total homes pending sales in a week by week comparison for 2008.
You can see that Port Orchard has seen a recent decline in the number of homes on the market, and a steep jump in the number of homes pending sales. Bottom line? This looks like a great time to get in on the Gig Harbor market if you are thinking of buying. Inventory is rising, buyers have more options, sellers are needing to meet the buyers more on their terms. If you’re selling in Gig Harbor, you need to make sure you’re in tip top showing shape, and you’ll probably want to be priced 5%-10% lower than homes that are comparable to yours. For folks looking to move to the area and maybe wanting more of a deal, Port Orchard has some great options. Port Orchard is a different school district, it’s not as convenient to Tacoma as is Gig Harbor, and doesn’t quite seem to have the same small community feel as Gig Harbor, but that is certainly up for debate and a matter of personal opinion. With all of the new growth, there’s not much distinction between south Port Orchard and north Gig Harbor anymore.
For more detailed information on home sale activity in your area, just email me or give me a call.
