Monday March 9, 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 $503,970.
With inventory trending up but days-on-market trending down and
the Market Action Index essentially flat recently, conditions do not
seem to have strong up or down pull.
Real-Time Market Profile
Trend
Median List Price
$ 503,970
Asking Price Per Square Foot
$ 178
Average Days on Market (DOM)
133
Percent of Properties with Price Decrease
27 %
Percent Relisted (reset DOM)
7%
Percent Flip (price increased)
8%
Median House Size (sq ft)
2896
Median Lot Size
0.25 - 0.50 acre
Median Number of Bedrooms
3.0
±+
±+
≠≠
Median Number of Bathrooms
Supply and Demand
Market Action Index
In the last few weeks the market has achieved a relative stasis point
in terms of sales to inventory. However, inventory is sufficiently low
to keep us in the Seller's Market zone so watch changes in the MAI.
If the market heats up, prices are likely to resume an upward climb.
±+
No change
2.5
Seller's Advantage
31.8
±+
== Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Price
Market Action Index
The market seems to have paused around this plateau. The
Market Action Index is a good leading indicator for the durability
of this trend.
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
$ 896,250
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
4200
0.50 - 1.0
acre
4.0
3.5
14
84
10
3
140
Most expensive 25% of properties
$ 604,975
3204
0.25 - 0.50
acre
4.0
3.0
10
84
8
6
134
Upper-middle 25% of properties
Lower/Third
$ 429,900
2520
0.25 - 0.50
acre
4.0
2.5
7
85
12
14
123
Lower-middle 25% of properties
Bottom/Fourth
$ 267,000
1551
0.25 - 0.50
acre
3.0
2.0
26
85
13
14
133
Least expensive 25% of properties
Mike Esteb | www.GigHarborRealEstate.com | 253.732.2500
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