November 2025

I was going to wait until the end of the year to write my final 2025 newsletter, but lately so many people have asked me about the current state of our real estate market, and specifically whether it’s a good time to put their home on the market, I thought it appropriate to address these questions now to provide potential sellers more time to plan for 2026.

At a national level, the housing market is increasingly split between extremes: equity-rich cash buyers are at an all-time high, while cash-strapped first-time buyers are at a record low. Interest rates hover around 6.2%, which is lower than last year but still far higher than the ~3% rates of 2020-2022. Inventory continues to rise but remains below pre-pandemic level. Sales volume and sales prices have both risen modestly, as the market attains a more balanced position between sellers and buyers.

With that said, we know we live in a unique area and have unique market dynamics. National headlines are interesting to understand broader trends, but when it comes to selling or buying a house in a small town like ours, it’s important to examine the hyper-local data, literally down to the sales trends within your particular neighborhood.

Comparing same period* 2025 sales to 2024, the volume of homes sold in Cape George rose 80% – it was a big year for sales here. The median price rose from $700K to $750K. The number of days on market also rose, however, with homes taking an average of 44 days to sell in 2025 versus 26 days in 2024. Notably, though, 40% of the homes sold within 10 days or less in 2025, versus 33% in 2024. A few homes still received multiple offers and sold for over the asking price. What was particularly striking was the percentage of cash sales in 2025: 72%. In 2024, that number was 50%, which was still almost double the national average of 26%, reflecting our target buyer demographic.

Luckily, our neighborhood offers a special combination of features many buyers request when they look for a home in Port Townsend: Water views, good-sized lots, reasonable proximity to town, amenities including a marina and pool, and a sense of community. While lately many buyers have expressed hesitancy to make such a significant financial decision with so much uncertainty and angst in the world, they realize they need to live somewhere, and our area is seen as a lovely, calm respite.

So, the short answer to the question of whether it’s a good time to sell your home is Yes. Please feel free to contact me to discuss your specific situation, preparatory needs, goals, and timeline. I’ve sold over 65 homes in Cape George – I live here, I know the neighborhood, and I’m ready to help.

* 1/1 through 11/10
            

(Click on table to enlarge.)

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Please feel free to call, text, or email any time.

Ellen Niemitalo

Managing Broker, CSMS, CBRS
Branch Manager, Port Townsend Office
emnptwa@gmail.com
360.531.4313 (cell)

Coldwell Banker Best Homes
234 Taylor Street
Port Townsend, WA
98368