Port Orchard, WA 98367 Real Estate Market Report

ZIP Code: 98367
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

The Port Orchard real estate market is currently characterized by a median sold price of $622,500, reflecting stable pricing trends. This price point indicates a solid demand for homes, despite the elevated median days on market of 191 days, which suggests a slower sales velocity. The market appears to be experiencing a neutral temperature, indicating a balance between buyer and seller expectations, although the median listing price of $679,000 indicates some pricing friction as sellers may be optimistic compared to recent sales data.

With a median market rent of $2,650, rental demand remains robust, contributing to the overall health of the housing market. The property tax rate of 0.86% is relatively moderate, which may further support buyer interest. Overall, the current market conditions suggest a stable environment with slight appreciation in home values, although the elevated inventory levels relative to sales activity may indicate a need for strategic pricing adjustments by sellers.

---

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

---

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

---

Property Taxes

---

Liquidity & Velocity

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Port Orchard, WA are averaging 6.38% as of March 26, 2026, which is 0.16% higher than the average rate of 6.22% recorded last week.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

---

Key Findings

1. The median sold price of $622,500 suggests a stable market with potential for slight appreciation.

2. Elevated median days on market at 191 days indicate slower sales velocity, which may require strategic pricing by sellers.

3. The median listing price of $679,000 reflects some pricing friction compared to recent sales, suggesting seller optimism.

4. Strong rental demand is evidenced by a median market rent of $2,650, supporting overall market stability.

5. Current property tax rate of 0.86% is moderate, potentially enhancing buyer interest in the market.

---

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.