Monday March 30, 2015
Mike Esteb's Executive
Summary
GIG HARBOR, WA
Single Family Homes
This Week
The median list price in GIG HARBOR, WA this week is $529,950.
Demand measured by the Market Action Index is increasing and
days-on-market is trending downward. Even as more properties
come available, these are positive trends for the market.
Real-Time Market Profile
Trend
Median List Price
$ 529,950
Asking Price Per Square Foot
$ 184
Average Days on Market (DOM)
124
Percent of Properties with Price Decrease
25 %
Percent Relisted (reset DOM)
5%
Percent Flip (price increased)
10 %
Median House Size (sq ft)
2880
Median Lot Size
0.25 - 0.50 acre
Median Number of Bedrooms
3.0
==
==
≠≠
Median Number of Bathrooms
Supply and Demand
Market Action Index
The market continues to get hotter. More sales demand and fewer
homes listed have contributed to a relatively long run of increasing
prices. Current supply and demand levels show no sign of prices
changing from their current trend.
±+
No change
2.5
Seller's Advantage
33.2
==
== Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Price
Market Action Index
Prices are climbing and we're nearing the market's all time high.
A persistent drop of the Market Action Index into the Buyer's
zone will be a leading indicator of the price strength subsiding.
Price Trends
7-Day Rolling Average
90-Day Rolling Average
Buyer/Seller Cutoff
The Market Action Index answers the question "How's the
Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.
Quartiles
7-Day Rolling Average
Characteristics per Quartile
Quartile
Median Price
Sq. Ft.
Top/First
$ 922,000
Upper/Second
90-Day Rolling Average
Investigate the market in quartiles where each quartile is 25% of homes
ordered by price.
Lot Size
Beds
Baths
Age Inventory New Absorbed DOM
4127
0.50 - 1.0
acre
4.0
3.4
14
86
9
3
136
Most expensive 25% of properties
$ 628,000
3200
0.25 - 0.50
acre
4.0
3.0
8
86
8
6
132
Upper-middle 25% of properties
Lower/Third
$ 438,450
2579
0.25 - 0.50
acre
3.0
2.5
12
86
12
7
113
Lower-middle 25% of properties
Bottom/Fourth
$ 259,950
1664
0.25 - 0.50
acre
3.0
2.0
24
87
17
19
115
Least expensive 25% of properties
Mike Esteb | www.GigHarborRealEstate.com | 253.732.2500
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