Published October 28, 2026 in Market Update

One part of Gig Harbor is moving faster, even with more homes for sale

By Lisa Wray

Real estate, Gig Harbor

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. Most people assume that slows everything down. In one part of Gig Harbor, it did not.

98332 got faster while 98335 and 98329 slowed

The Real Estate Data Aggregator counted homes across three ZIP codes for the three months ending August 31, 2026. The numbers do not all point the same direction.

ZIP 98332 had a median of 13 days on market, according to the Real Estate Data Aggregator. That is 9 days shorter than the same period in 2025. More homes were available there too: inventory was up 17.4% year over year. Faster sales with more supply is not a combination you see every day.

ZIP 98335 moved a little slower. The Real Estate Data Aggregator put its median days on market at 16, which was 4 days longer than a year before. Still, 48.3% of homes there went under contract within two weeks of listing. That is a strong share.

ZIP 98329 is the one that slowed the most. The Real Estate Data Aggregator counted a median of 31 days on market, 19 days longer than a year ago. Homes sold there dropped 35.7% compared with the same months of 2025.

Prices are still rising in all three ZIPs

Prices rose in every ZIP. The Real Estate Data Aggregator showed 98329 up 14.4% in median sale price, reaching $675,000. That is the biggest jump of the three. But that ZIP also had the fewest sales and the slowest pace. A higher price with fewer buyers can mean a longer wait.

In 98332, the median sale price reached $1,022,441, up 8.8%. The Real Estate Data Aggregator also found that 28.4% of homes there sold above list price, up 5.4 points from a year before. That is the biggest gain in above-list sales of any ZIP here.

The wider picture: rates are up, and so is national inventory

Realtor.com reported that 20.8% of listings nationally saw price cuts in September 2026, the highest share since October 2022. Active listings topped 1.16 million homes nationally, also per Realtor.com.

Rates above 7% make monthly payments heavier for buyers everywhere. The Federal Housing Finance Agency reported U.S. home prices rose 2.6% from July 2025 to July 2026. Gig Harbor's price gains are running ahead of that national pace in every ZIP code here.

What this means if you own or are buying in Gig Harbor

Across all three ZIPs together, the Real Estate Data Aggregator counted 245 homes sold in the three months ending August 31, 2026. That is down 6.5% from the same period in 2025. Pending sales across the three ZIPs fell 9.9%. So the overall market is a little quieter.

But quieter overall does not mean quiet everywhere. ZIP 98332 is the clearest example of that. Speed, price gains, and above-list sales all moved in a positive direction there, even as inventory grew.

Not every home sold fast. ZIP 98329 took twice as long as 98332 at the median. That gap matters when you are deciding where to list or what to offer.