Stephanie Patrick - In Town Gig Harbor - January 2021

2020 IN TOWN GIG HARBOR YEAR-IN-REVIEW Average Sold Price

Average Price Per Sq. Ft.

CONDO

CONDO

$590,056

$324

RESIDENTIAL

RESIDENTIAL

$781,728

$355

Average DOM

RE/MAX Exclusive 7201 Pioneer Way Suite A101 Gig Harbor, WA 98335

EXCLUSIVE Each office is independently owned and operated.

Average Sold Price vs. List Price Ratio

CONDO

CONDO

25

100.1%

RESIDENTIAL

RESIDENTIAL

70

100.0%

Johnathan and Angela-Marie, Your In Town Gig Harbor community had a fantastic year, with increases in several key market indicators. The demand for your community remains high with current inventory pointing to a seller’s market. Now is a great time to consider listing your home and taking advantage of the upward trends. If you are thinking about selling, contact me today at 253.297.0022.

STEPHANIE PATRICK REALTOR®, SRES

IN TOW N GI G HA R BO R Real Estate Market Report

253.297.0022 spatrick@remax.net www.InTownGigHarborLiving.com

Presented by Stephanie Patrick

Your In Town Gig Harbor Real Estate Specialist

Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2021 Data based on listings from NWMLS from January 1st to December 31st, 2019 and 2020. Information deemed accurate but not guaranteed.

NOW PENDING! - 7221 Soundview Drive #201 CALL FOR MORE DETAILS!

EXCLUSIVE

PREPARED ESPECIALLY FOR

Johnathan and Angela-Marie Williams

2021 Housing Forecast

IN TOWN GIG HARBOR Real Estate Market Report In Town Gig Harbor Homes Currently Listed

STEPHANIE PATRICK

Property Type

View

Beds

Baths

Estimated Square Feet*

List Price**

Condominium

Bay, Mountain, Sound

3

2.0

2,100

$1,050,000

Residential

Bay, Mountain

4

1.5

2,200

$725,000

Residential

Bay, City, Sound

2

1.0

700

$800,000

Residential

Bay, City, Mountain, Sound

3

2.0

1,800

$945,000

Residential

Mountain, Partial

3

2.5

3,100

$990,000

Residential

Bay, City, Sound

4

2.8

3,200

$1,520,000

REALTOR®, SRES

There is Currently 1 Home Pending in In Town Gig Harbor

253.297.0022

In Town Gig Harbor Homes Sold in the Past 30 Days Estimated Square Feet*

List Price**

Sold Price**

Sold Date

1.8

1,300

$350,000

$366,000

12/14/20

N/A

2,500

$649,000

$649,000

12/28/20

3

1.8

2,800

$850,000

$850,000

12/15/20

3

4.3

2,800

$875,000

$875,000

12/14/20

Address

Property Type

View

Beds Baths

7400 Stinson Avenue

Condominium

City, Sound, Territorial

2

4223 Rosedale Street NW

Residential

Territorial

N/A

6907 Rainier Avenue

Residential

Bay, City, Mountain, Sound

3211 Emerald Lane

Residential

Bay, Mountain, Partial, Sound

Home sales are going up Strong demand and more homes hitting the market equal a healthy rate of growth.

+5.7%

For more information on any In Town Gig Harbor homes, contact me at 253.297.0022.

spatrick@remax.net www.InTownGigHarborLiving.com

+7.0%

Stephanie Patrick and RE/MAX Exclusive are not in any way affiliated with In Town Gig Harbor Owners Association, nor is this in any way an official advertisement or publication of In Town Gig Harbor. ©2021 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the NWMLS from December 8th, 2020 to January 8th, 2021. Listings and sales may not be those of RE/MAX Exclusive. The NWMLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Indicates a number rounded to the nearest 100. **Indicates a number rounded to the nearest 1,000.

MORTGAGE RATES ON THE MOVE

THE RISE OF THE MILLENNIALS

by end of 2021

No longer just dominating the entrylevel market, millennials are now taking over as “move up” buyers as they have children and need more space.

3.4%

KEY HOUSING TRENDS IN 2021 MILLENIALS AND GEN-Z A recent survey said that lower mortgage rates enabled these buyers to change their home search toward a larger home.

Home prices will hit new heights

REMOTE WORK

65.9%

SUBURBAN MIGRATION

Homeownership Rate

Johnathan and Angela-Marie, Homes in In Town Gig Harbor are in high demand! If you are considering a move, call me today at 253.297.0022 to take advantage of these new trends.

Despite high expectations of returning to the office, remote workers are choosing properties with dedicated office space.

Home shoppers are looking for an affordable space to shelter, work, learn, and live and are reporting increases in willingness to have a commute to work.

Published by Danielle Hale, Realtor.com on December 2nd, 2020