Gig Harbor Real
Healthy price increase for waterfront sales plus near volume record
2014�s sales nearly equaled 2013�s record-breaking year. But the real news is the 18% increase in median sales price. Half of all sales were more than $600,000 and half less. Gig Harbor waterfront sales prices peaked at $900,000 in 2007--now at 2005 levels.
But the sales pattern was atypical�the market slowing precipitously 4th quarter 2013, continuing through the entire 1st half of 2014. By July sales were markedly down, both price & number.
Not surprisingly, all 23 $1m plus sales occurred in Gig Harbor & Fox Island. But what was noticeable was the buying intensity 4th quarter in the upper end. Only 6 offers were accepted in the entire 1st half, 7 in the 3rd quarter & 9 in the 4th, mirroring consumer confidence. 10 of those 23 sales closed in November & December alone.
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