April was pretty much a repeat of March, with all categories (New listings, pending sales, closed sales) down fairly significantly.  The ratios between these categories remain the same. 

Overall we are just seeing lower numbers. At the end of April, Gig Harbor's inventory still had not crossed over 200 available homes on the market, which is down 16% year on year. This tight supply is mirrored in Pierce County which was down 19% year on year. Kitsap County was down 14% year on year. And King County was down a whopping 35% year on year.

This market-wide tight supply is keeping prices elevated.  So if you are looking for the pandemic to put downward pressure on pricing, it is most likely not going to happen. If you are a Seller, this is a great time to consider listing. If you are a motivated Buyer, you will most likely have competition for the best homes. 

While things are anything but normal, our local housing market should continue to be brisk through the late spring and summer buying season. Whether you're thinking about buying or selling your home, it's important to have a good understanding of what’s going on in the Gig Harbor market. Here is the most important data, such as the average sales price, number of homes sold, and days on the market. Our market report showcases everything you need to know about local real estate trends.