Navigating the Oak Harbor Housing Market: A Buyer’s Guide to 98277

Welcome to Oak Harbor, a community that perfectly embodies the “Cozy Country Living” lifestyle that makes Whidbey Island so special. From the iconic vistas of Deception Pass State Park to the quiet beauty of Penn Cove, our area offers a unique blend of rural charm, economic stability, and military-rooted community life.

As a local real estate team, our goal is to strip away the jargon and provide a clear, data-backed look at what is happening in the 98277 market today. Whether you are relocating due to military orders, purchasing your first home, or planning for retirement, this guide is designed to help you understand what current trends mean for your long-term investment.

Are home prices in Oak Harbor rising?

The short answer is yes — with an important shift that benefits buyers. While home prices have climbed steadily over the past several years, the pace of growth has moderated, creating a more predictable and balanced market.

Recent Median Sales Price Trends

The Bottom Line:
Oak Harbor is no longer experiencing rapid price spikes. Instead, the market is showing steady, sustainable appreciation, which supports equity growth while reducing risk for buyers — particularly those planning to stay for one or more duty cycles.

Will we have enough homes to choose from?

Inventory constraints have defined the Oak Harbor market for years, but conditions are improving. We are seeing a meaningful increase in the number of homes coming to market.

New Listing Activity

This increase gives buyers — including military families navigating PCS timelines — more flexibility and less pressure. While Oak Harbor remains a competitive market, buyers today generally have more time to evaluate options, negotiate thoughtfully, and align their purchase with long-term goals.

How does the military presence shape the 98277 housing market?

Oak Harbor’s housing market is deeply influenced by Naval Air Station Whidbey Island, one of the region’s largest and most stable employers.

NAS Whidbey Island supports thousands of active-duty service members, civilian personnel, and contractors. This creates:

• Consistent housing demand driven by PCS cycles

• A strong mix of owner-occupied and rental properties

• Neighborhoods designed for both short-term flexibility and long-term ownership

Military families often seek homes that balance proximity to the base with access to schools, parks, and everyday amenities — all of which are readily available in 98277. This steady inflow of residents helps insulate the market from sharp downturns and contributes to Oak Harbor’s long-term stability.

Market Insight:
Even during broader economic shifts, military-driven housing markets tend to remain resilient. In Oak Harbor, that stability supports both homeownership confidence and long-term property values.

Who is the typical neighbor in the 98277 area?

Oak Harbor is home to a diverse, connected population shaped by both civilian and military life. Lifestyle data commonly reflects “The Great Outdoors” and “Cozy Country Living,” supported by a median age of 35.9 — younger than many surrounding island communities.

Residents tend to be:

• Active and educated: Outdoor recreation and continuing education are priorities.

• High-pride homeowners: Many residents value hands-on care, landscaping, and home maintenance, contributing to well-kept neighborhoods.

• Community-oriented: Veterans, service members, and long-time locals often participate in schools, youth sports, and civic organizations.

Community Insight:
Approximately 60% of adults in 98277 are married, reinforcing the family-forward, rooted feel that defines much of Oak Harbor.

How does the local economy affect long-term home values?

Oak Harbor benefits from a diversified and stable economic base. The current median household income is approximately $76,748, with long-term trends pointing toward continued income growth.

In addition to NAS Whidbey Island, the area supports strong employment in Health Care, Retail, and Public Administration. On a typical weekday, Oak Harbor experiences a daytime population increase of more than 22,000 people, reflecting its role as both a residential and employment center.

This level of daily economic activity helps protect property values and supports consistent housing demand across market cycles.

What defines the daily Oak Harbor lifestyle?

Life in Oak Harbor is built around efficiency and access to the outdoors. Nearly 65% of residents commute under 20 minutes, making it easier to balance work, family life, and recreation.

While most residents drive to work, thoughtful neighborhood selection can significantly influence daily quality of life.

Pro Tip:
Traffic volumes are highest along S Oak Harbor Street and State Route 20. Understanding these patterns allows us to help buyers find homes that offer convenience without unnecessary congestion or noise.

Is now a good time to buy in Oak Harbor?

From a data-driven standpoint, current conditions support a strategic buying window.

Population growth of roughly 2.3%, gradually increasing household sizes, rising inventory, and moderated price appreciation all point to a market that rewards informed, intentional buyers. For military families, this can mean building equity during a tour — and potentially retaining the property as a long-term investment.

Oak Harbor continues to offer something increasingly rare: a stable housing market with real lifestyle value, supported by enduring economic and military foundations.

Contact Information & Professional Credentials

If you have questions about specific neighborhoods, military relocation considerations, or how these trends apply to your goals, we’re here to help.

Coldwell Banker 360 Team
Phone: 360-675-5915
Website: https://www.cb360team.com

Data sourced from the Northwest Multiple Listing Service, Esri reports, and the U.S. Census American Community Survey.