Gig Harbor Real
Healthy price increase for waterfront sales plus near volume record
2014ís sales nearly equaled 2013ís 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 atypicalóthe 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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