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Key Peninsula home prices are on a roller coaster
Key Peninsula home prices are on a roller coaster
Key Peninsula home prices are higher one month and lower the next, compared to 2008. While sales prices were lower in December they followed three months of higher prices.
Key Peninsula home prices are down 10% from 2008 and 14% from 2007. That compares to Gig Harbor that bumped up 1% over 2008 and the 4-county Puget Sound area that dropped 7% decrease in prices.
On the other hand, sales of Key Peninsula homes have been showing a tidy increase, with 33% over 2008 and 29% from 2007 year-over-year. The change from 2008 is on a par with Gig Harbor but sales in Gig Harbor are a whopping 160% better than 2007.
 At the same time the 4-county Puget Sound area reported 54.7% more sales than last year so both Gig Harbor and Key Peninsula are some distance behind regional figures for this measure.

Realtors have been pleased with the relatively strong market for December and the momentum appears to be continuing with sales activity in January. Much of those sales are being driven by the first-time home buyer tax credits and low interest rates. Interest rates are starting to tick ... more

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