Oak Harbor Real Estate Market Update: What to Know Right Now

What’s happening in the Oak Harbor real estate market right now?

The Oak Harbor market remains competitive, with rising prices, steady demand, and growing inventory that could shift the landscape for both buyers and sellers heading into the fall.

Oak Harbor by the Numbers

The median sale price in Oak Harbor is hovering around $535,280 (as of August 2025), reflecting a 13.2% increase year-over-year. In nearby ZIP code 98277, the median sold price is slightly lower at $514,950, still showing nearly 4% growth from the previous year.

While prices continue to climb, inventory is expanding. Whidbey Island overall saw a 38.4% increase in active listings year-over-year. Oak Harbor itself has around 238 homes currently for sale, up slightly from the previous month. This signals a market that's gradually becoming more balanced.

Homes are still selling quickly. In June, 61% of homes sold in under 30 days, and 37% sold within 30 to 90 days. Island County's average time on market is just 24 days, with Whidbey Island homes selling even faster, in about 16 days on average.

What This Means for Sellers

If you’re thinking about selling, you still hold a strong position—especially if your home is well-priced and well-presented. While bidding wars aren’t guaranteed, 37% of Oak Harbor homes sold above asking price in June, and only 37% sold under. That shows pricing strategy is key.

To stand out in a growing inventory pool:

• Price competitively from day one

• Invest in staging and professional photos

• Work with an agent who knows how to market your home's unique features

What This Means for Buyers

Buyers are gaining options, which means a more strategic approach can pay off. With inventory on the rise, you may be able to negotiate more favorable terms—but homes in good condition and priced right are still moving fast.

Be ready to:

• Act quickly on move-in ready listings

• Get pre-approved before you shop

• Watch for value in slightly older listings that may be ripe for negotiation

Final Takeaway

The Oak Harbor real estate market remains active and slightly favoring sellers, but rising inventory is creating room for buyers to re-enter with more confidence. Whether you're buying or selling, strategy matters more than ever.

Ready to Make Your Move?

If you're considering a move in or around Oak Harbor, we’re here to help. We’ll guide you through every step of the process—with the latest data, expert insight, and proven strategies tailored to your goals.

Jeff and Kara Vallejo
Real Estate Agents | Oak Harbor, WA
360-632-1601

@jeffandkaravallejo