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Gig Harbor, the very name conjures up romantic thoughts of the sea, a picturesque fishing village, the safety and security of a harbor, a little seclusion, even offering a slower pace. This, and much more, is the way a resident would describe the Gig Harbor Peninsula and most say, “Gig Harbor is a state-of-mind, a lifestyle.” Be it a pioneer descendant, a resident for the past 40 years, or a newcomer, the answer is usually the same... “Gig Harbor represents a quality of life.” The median sales price for existing homes in both the Gig Harbor and Key Peninsula area ran about $220,000 for the 2002 year. The median sales price for new construction ended 2002 at about $320,000 with prices destined to run higher in the future with relatively few lots, heavy impact fees for new construction and higher development costs. Pierce County's existing home median sales price is $170,000 and new construction $191,000. Appreciation in the area has always been good and it is particularly true now with the second Narrows Bridge under construction and due to open in April 2007. Inventory is lower now than it has been for a number of years, as buyers discover Gig Harbor is a great place to live, work and play. The Realtors in Gig Harbor represent a high standard of professionalism and the companies are both nationally and regionally associated, with several independent companies. Additionally, there are several apartment complexes, as well as several rental companies specializing in single family home and condominium rentals.
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