A look into Grays Harbor market changes with Kevin Spivey
How Grays Harbor’s Real Estate Market Has Transformed Since 2016
When I first started in real estate back in 2016, the average sale price in Grays Harbor was around $148,000 (not including the Pacific Beach area, primarily Seabrook). Fast forward to 2024, and that same average sale price has nearly doubled to $357,000—a staggering 2.5x increase! Even compared to 2023, 2024 has shown a further increase in average sale prices by about 6-8%.
The Market Ebbs and flows
Late 2021 marked a significant “peak” in Grays Harbor’s real estate market, with high sale prices and an impressive number of homes sold. While 2022 and 2023 were relatively stagnant, the effects of this peak have been particularly noticeable in Ocean Shores, where home prices have averaged about 5-10% below that 2021 high.
Looking Ahead: 2025 and the Impact of Interest Rates
With recent interest rate reductions—and the possibility of further cuts in 2025—the market is primed for growth. Low inventory has fueled competition, pushing sale prices up. We’re likely to see not only rising prices but also a higher number of homes sold as we move into the new year.
A Changing Market for Sellers and Agents Alike Interest Rates
Looking back to 2016, the market was different in more ways than just sale prices. The cost of doing business as a real estate agent was also significantly lower. Today, marketing costs are higher, but these investments benefit our sellers tremendously. We focus on professional photography, social media ads, and other marketing strategies to help sellers maximize their resale values. While our marketing efforts began in 2019, we’ve seen how the extra cost delivers great returns for our clients, whether they’re moving on to new adventures, downsizing, relocating, or selling to support retirement or medical care.
As we prepare for 2025, we’re excited to continue guiding our clients through an ever-evolving market. Real estate may have changed, but our commitment to helping you maximize your investment remains strong!
If you’re considering buying or selling, let Spivey Realty Group help you make the most of your real estate journey. Reach out to us at 360-518-6886 or visit graysharborrealestate.com to get started today!
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