08/05/2026
July Market Update: Is the Summer Heat Starting to Cool Off? š”ļøš
July showed its historical colors across the South Sound! While sellers are still commanding strong prices, inventory is creeping up and buyer activity is slowing downāsignaling a transition into late-summer seasonal cooling. Yet that trend shows up differently in each market. Here is what the numbers actually mean for Tacoma, Port Orchard, and Gig Harbor:
ā” TACOMA: Premium Prices, Slower Pace
* Price: Up 2.75% to $513,750
* Inventory: Up 6.1% to 3.5 months
* Days on Market (DOM): Up 50% to 12 days
* List Price Received: 100%
The Takeaway: Sellers are still getting 100% of their asking price, but theyāre waiting longer for it. As we head into August, sellers who donāt price ahead of the curve may face price drops. For buyers: with nearly 2/3 of active homes not selling immediately, savvy buyers who can make a few compromises finally have some leverage!
PORT ORCHARD: Slower Pace, Opportunity for Buyers
* Price: Up 4.3% to $558,000
* Inventory: Up 6.3% to 3.4 months
* Days on Market (DOM): Up 33.3% to 20 days
* Pendings: Down 5.5%
The Takeaway: The slowdown is similar to Tacoma, but more pronounced here. July was likely one of the last months for premium summer pricing. If youāre selling in Port Orchard moving forward, realistic day-one pricing is mandatoryāor be prepared to wait 2ā3 weeks. Buyers: lingering listings mean room to negotiate on great properties.
ā GIG HARBOR: Shift Toward a Balanced Market
* Price: Down 4.1% to $876,000
* Inventory: Up 12.5% to 4.5 months
* Days on Market (DOM): Up 70% to 17 days
* List Price Received: Down to 99.5%
The Takeaway: June was Gig Harborās peak price month. In July, inventory built up to 4.5 months, shifting us into a seller-leaning balanced market, where buyers have more leverage. Sellers who fail to price realistically today, anticipating the seasonal Fall slowdown, will ultimately be forced to make steeper concessions to patient buyers later.
š” The Bottom Line
* Sellers: Accuracy on day one beats chasing the market down with price cuts in late summer.
* Buyers: Nearly 2/3 of local inventory isnāt flying off the shelf overnightāthis is your windo
