Gig Harbor Real Estate Housing activity picking up steam as spring begins

The Gig Harbor real estate market is showing promising signs as we transition into spring, with pending sales of single-family homes soaring 40% from January to February 2025. Compared to last year, this figure represents a 51% increase, suggesting heightened buyer interest. However, the overall housing supply remains flat, with 78 homes for sale in February, mirroring figures from the previous year. The median home price stabilized at $915,000, reflecting a notable 7. 6% year-over-year rise, outpacing national averages.

This market momentum is driven by a persistent supply-demand imbalance that favors sellers. Nevertheless, external factors, such as fluctuating mortgage rates and recent layoffs in major companies, could impact future real estate dynamics. As buyers navigate the market, the combination of rising pending sales and stable prices indicates a robust landscape in the greater Gig Harbor area. Real estate broker Alison Paoli emphasizes the importance of staying informed about these trends for potential buyers and sellers alike.