Port Townsend, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Port Townsend Neighborhoods Since 2000




Port Townsend, WA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Port Townsend Housing Market Information

With a population of 9,335, 4,431 total housing units (homes and apartments), and a median house value of $386,918, real estate costs in Port Townsend are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in Port Townsend, accounting for 74.64% of the city's housing units. Other types of housing that are prevalent in Port Townsend include large apartment complexes or high rise apartments ( 12.26%), duplexes, homes converted to apartments or other small apartment buildings ( 7.81%), and a few mobile homes or trailers ( 3.57%).

The most prevalent building size and type in Port Townsend are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.61% owning and 35.39% renting.

There is a lot of housing in Port Townsend built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Port Townsend built between 2000 and later ( 21.81%). A lesser amount of the housing stock also hails from before 1939 ( 19.91%). There's also some housing in Port Townsend built between 1940-1969 ( 13.47%).

Vacant housing appears to be an issue in Port Townsend. Fully 13.10% of the housing stock is classified as vacant. Left unchecked, vacant Port Townsend homes and apartments can be a drag on the real estate market, holding Port Townsend real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Port Townsend Home Appreciation Rates

Appreciation rates for homes in Port Townsend have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.71%, which ranks in the top 50% nationwide. This equates to an annual average Port Townsend house appreciation rate of 0.17%.

Appreciation rates are so strong in Port Townsend that despite a nationwide downturn in the housing market, Port Townsend real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Port Townsend appreciation rates continue to be some of the highest in America, at 11.44%, which is higher than appreciation rates in 96.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Port Townsend. Port Townsend appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.14%.

Relative to Washington, our data show that Port Townsend's latest annual appreciation rate is higher than 70% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$386,918

Port Townsend, WA HOME PRICES

Value Range
> $1,257,000 2.4
$943,001 - $1,257,000 3.0
$628,001 - $943,000 5.8
$503,001 - $628,000 12.4
$377,001 - $503,000 25.2
$251,001 - $377,000 30.1
$126,001 - $251,000 17.8
$63,001 - $126,000 1.0
$0 - $63,000 2.3

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
10.0667994843549 21.2765957446809

Number Of Homes And Apartments:
4,431

Port Townsend Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
106.89% 4.30% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,030 / per month

Homeownership Rate

Homeownership
Owners 64.61
Renters 35.39
Vacant 13.10

Housing Market Details

 

Age of Homes

AGE OF Port Townsend HOMES
2000 or Newer 21.8
1970 - 1999 44.8
1940 - 1969 13.5
1939 or Older 19.9

Types of Homes

TYPE OF Port Townsend HOMES
Single-Family 74.6
Townhomes 1.7
Small Apt. Buildings 7.8
Apt. Complexes 12.3
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Port Townsend HOMES
No Bedroom 2.49
1 Bedroom 19.85
2 Bedrooms 24.83
3 Bedrooms 42.18
4 Bedrooms 10.04
5 or more bedrooms 0.61

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Zip Codes in Port Townsend, WA