Home inventory in Gig Harbor shrinking slightly
Gig Harbor’s record number of homes for sale is beginning to shrink…slowly. Our absorption rate (the number of months that it would take to sell all of our housing inventory) has dropped from about 20 months to about 18 months. That’s still heavily favoring a buyers’ market. The shrinking inventory seems to have more to do with fewer homes being listed for sale as opposed to more homes selling. The chart below shows the total number of single family homes for sale in Gig Harbor, Port Orchard, and the Key Peninsula in a week by week format for ‘08.
If you’d like more information on home sales in your neighborhood, or any other real estate related topics, please give me a call.
