Is South Gateway, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South Gateway was a Seller's Market.
Key Takeaway
South Gateway is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Gateway, OR
How much do homes in South Gateway, OR cost?
Median Sold Price
$485,000
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Gateway have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in South Gateway was $485,000 in May 2024, up 4.3% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $340K | $339K | -0.3% |
| 3 Bedrooms | $452.8K | $449.9K | -0.6% |
| 4 Bedrooms | $565K | $579.9K | +2.6% |
| 5+ Bedrooms | $550K | $610K | +10.9% |
Summary: South Gateway housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.3%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 10.9%.
Housing Supply in South Gateway, OR
How many homes are available in South Gateway, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 43 | +2.4% |
Summary: The South Gateway real estate market had 43 homes for sale in May 2024, a 2.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 27 | 26 | -3.7% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The South Gateway housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 6 | -57.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Gateway, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in South Gateway in May 2024, down by 57.1% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for South Gateway, OR
How long does it take to sell a home in South Gateway, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 70 Days | 29 Days | -58.3% |
Summary: Homes in South Gateway had an average of 29 days on market in May 2024, down by 58.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Gateway are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in South Gateway; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.