Is Port Townsend, WA 98368 a buyer’s or seller’s market?

The Port Townsend housing market right now

In the three months ending August 31, 2026, 16% of homes in Port Townsend, WA 98368 sold above their list price, the typical home went under contract in 25 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 78 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 22%, homes sold more slowly (10 days then) and the median sale price fell 21% to $572,252. Overall, Port Townsend is less competitive than a year ago, which gives buyers more room.

Within Jefferson County, homes here sell more slowly than in 57% of the county’s ZIP codes, and sell more often over asking than in 71%. On our competition score, Port Townsend ranks #190 of 298 WA ZIP codes with enough sales (score 51 out of 100).

Nearby, buyers who want less competition could look at Quilcene 98376 (0% sold over asking) or Chimacum 98325 (0% sold over asking), while Brinnon 98320 (33% sold over asking) and Forks 98331 (29% sold over asking) are even more competitive.