Gig Harbor home sale statistics–November
With Christmas right around the corner, I figured it’s about time I posted November’s home sale statistics for Gig Harbor. November was a pleasantly productive month for real estate in the Gig Harbor area, especially when compared with last year. When I talk about “Gig Harbor,” I refer to zip codes 98335, 98332, and 98333 (which is actually Fox Island). I do not include Key Peninsula in my Gig Harbor search.
So…looking just at single family home sales in Gig Harbor, there were 42 homes that sold at a median price of $407,000. Last November, only 22 homes sold, and the median sales price was $318,608. That’s (obviously) a HUGE difference! The 42 sales is actually the 6th highest total we’ve seen in the past 24 months! Not bad for a time that is supposed to be seasonally “down.” As someone recently said, there may not be a winter season in real estate this year…the market is so topsy-turvy that seasonal factors may not be prevalent this year.
Key Peninsula only had 18 sales, with a median price of $242,500. Port Orchard, like the Harbor, saw a big increase with 70 sales (compared to 42 last year) with a median price of $233,500. Below is a look at the past 2 years of single family home sales in our area.
There’s one statistic that I’d like to point out special this time. Price is obviously one of the most difficult decisions to make when listing your home for sale. The common desire of home sellers is to list high to leave some wiggle room in there, or counter act “low ball offers.” What is often missed is that by over pricing the home from the start, you ultimately can end up losing a lot of money and time. Look at this graph that shows the relationship between % of sales price versus list price and days on the market. Notice how homes that sell most quickly also sell for the highest percentage of listing price. In other words, homes that are priced right at the beginning sell the quickest for the most.
If you’d like specific home sale information on your home or your Gig Harbor neighborhood, please give me a call or email me!
