The years teach much which the days never knew. -Ralph Waldo Emerson
And wow, what a year it has been... To me it felt like Gig Harbor real estate versus the news media! There's so much to brag about- A new bridge with an easy drive across the Narrows, a new Costco, Gig Harbor North, Uptown GH, and St. Anthony Hospital just for starters. And yet all we hear is the housing/sky is falling; nobody's buying homes, prices are plunging; things will get worse before they get better...
Well, people are buying and in fact according to the MLS statistic reports; closed residentual sales YTD for the entire Gig Harbor/ Key Peninsula areas are down only 12% from 2006. And some pockets of GH real estate are thriving-- Have you tried to buy an affordable waterfront home lately? Sold Key Peninsula waterfront property prices increased an astounding 48% over 2006. Area #1 (Downtown Gig Harbor) is another good example where prices on closed sales are up 17% this year.
So what's with all the for sale signs up and down the roads? Glad you asked, and inventory certainly has increased dramatically. But according to most experts it is very close to historically typical levels (before the lastest run-up). Everyone agrees: Sellers have been spoiled. And that party is over. Return to "normal".
Hey, I'm just an enthusiastic real estate agent trying hard to remain positive and sell houses... But cut me some slack and I'll promise you this: Gig Harbor is a very nice place to live, fast turning into a great place to live. A mortgage crisis or a sales slow down is not going to change that. So, now; make that right now: It's as good a time as any to buy or sell Gig Harbor real estate. And Mr Emerson's quote today might well read; "trying to time the Gig Harbor real estate market is a fool's game".
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