Dec 23 2009
Key Peninsula home prices up in November
Key Peninsula home prices up in November Key Peninsula home prices are up for the third month in a row but sales just barely beat 2008.  This is the third month in a row with higher median prices than a year ago and is a trend going the right way for homeowners
The $248,000 median sales price is an uptick of 27% compared to the same month last year ($196,000) but virtually the same as October. But it is still down 20% over the high of late 2006-early 2007.
November is the first month with more sales than either 2008 (up 10%) or 2007 (up 5%) but is the fifth of the last six months to better 2008 numbers. This certainly has to be encouraging to homeowners and to Realtors alike.
These figures include all Key Peninsula zip codes--part of the Gig Harbor multiple listing service area. The statistics are not as strong as Gig Harbor which doubled year-over-year or Pierce County as a whole, which showed sales up 73% in November. However Pierce County displayed a dip in median sales price of 3.5% while Gig Harbor was up 30%.
This uptick in sales price can be explained by some more depth to the closings-something Key Peninsula home prices have not experienced lately. The sales include a wide variety--three salt waterfront, two view, two lake front and five bank-owned properties.
The $8000 tax credit has been fueling the market all year, but this demonstrates sales have finally moved beyond that single market segment and speaks to overall stability for Key Peninsula home prices. For the homebuyer still interested in using the tax credit and the very low interest rates available-inventory is dropping quickly and time is short to take advantage of this segment.
Carole Holmaas is an Associate Broker with Windermere Real Estate, licensed since 1967. She may be contacted at 253.549.6611 or Carole@ISellGigHarbor.com. You may follow her blog at http://blog.ISellGigHarbor.com.
November is the first month with more sales than either 2008 (up 10%) or 2007 (up 5%) but is the fifth of the last six months to better 2008 numbers. This certainly has to be encouraging to homeowners and to Realtors alike.
These figures include all Key Peninsula zip codes--part of the Gig Harbor multiple listing service area. The statistics are not as strong as Gig Harbor which doubled year-over-year or Pierce County as a whole, which showed sales up 73% in November. However Pierce County displayed a dip in median sales price of 3.5% while Gig Harbor was up 30%.
This uptick in sales price can be explained by some more depth to the closings-something Key Peninsula home prices have not experienced lately. The sales include a wide variety--three salt waterfront, two view, two lake front and five bank-owned properties.
The $8000 tax credit has been fueling the market all year, but this demonstrates sales have finally moved beyond that single market segment and speaks to overall stability for Key Peninsula home prices. For the homebuyer still interested in using the tax credit and the very low interest rates available-inventory is dropping quickly and time is short to take advantage of this segment.
Carole Holmaas is an Associate Broker with Windermere Real Estate, licensed since 1967. She may be contacted at 253.549.6611 or Carole@ISellGigHarbor.com. You may follow her blog at http://blog.ISellGigHarbor.com.
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The $406,250 median sales price is an increase of 30% compared to the same month last year ($313,000) and 6% better than October. But it is still down 18% over the high of late 2006-early 2007. This is the fourth month out of the last five with higher median prices than a year ago and is another trend going the right way for homeowners.
This uptick in sales price can be explained by both the depth and the breadth seen in November's closings-something Gig Harbor home sales have not seen recently. The sales include a wide mix of homes-four in Canterwood, three salt waterfront, six view, five new, seven bank-owned properties and six condos. Sales of higher-end Canterwood homes and condos have long been absent from Gig Harbor home sales.
While the $8000 tax credit has been fueling the market all year, this demonstrates sales have finally moved beyond that single market segment. This speaks well for overall stability for Gig Harbor's market. For the homebuyer still interested in using the tax credit and the very low interest rates available-inventory is dropping quickly and time is short to take advantage of this segment.
Sales are spread throughout the Gig Harbor peninsula with noticeably more seen on Fox Island than there have been for months.
November's median price on condos closed was $280,000; for single family residential it was $418,000.
Carole Holmaas is an Associate Broker with Windermere Real Estate, licensed since 1967. She may be contacted at 253.549.6611 or Carole@ISellGigHarbor.com. You may follow her blog at http://blog.ISellGigHarbor.com.
The first Euro-American settlement in Warren began in the late 1870s. A permanent dock was constructed in the early 1910s and farming formed the economic base for the community at the beginning. In the late 1920s, local residents constructed a road connecting Warren to Arletta and Horsehead Bay.
Area residents have consistently demonstrated their strong commitment to provide a high quality public education to nearly 10,000 students. The district enjoys a statewide reputation for meeting the educational needs of today's students who become tomorrow's leaders. In addition, Gig Harbor has nearly a dozen private schools.
The Harbor History Museum is located on Gig Harbor Bay and allows visitors a place to experience the history of Gig Harbor. The Museum is in the process of relocating to a new multi-million dollar facility, highlighted by the Shenandoah, a purse seiner built in a Gig Harbor shipyard and the Midway schoolhouse.
While Gig Harbor was once most known for its fishing and logging, it is now also known for its numerous art galleries, art walks and art shows. Two theatre companies in Gig Harbor provide entertainment including dinner theatre and summer outdoor theatre.
The Gig Harbor area is ideal for enjoying water-related recreation. Whether you prefer water skiing, power or sail boating, kayaking, fresh or salt water fishing, scuba driving, windsurfing, clamming, beachcombing or swimming, the secluded harbors provide excellent moorage and docking facilities.
There are four state parks. Boat ramps are located near the major bays. Gig Harbor operates a waterfront park, a park on Crescent Creek, a boat-building facility and a pioneer farm. Eight golf courses offer year-round golf close to Gig Harbor.
Numerous events are scheduled throughout the year, largely centered on the Gig Harbor waterfront, including farmers markets, outdoor cinema, Tuesday night music at the park, and lighted holiday boat parade.
Youth and adult baseball, basketball, football, gymnastics, dance, and soccer programs are provided through community organizations. Two local pools provide swimming opportunities for the community and swim clubs.
Carole Holmaas is an Associate Broker at Windermere Real Estate. She may be reached at 253.549.6611 or Carole@ISellGigHarbor.com