Is Forest Grove-Cornelius, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Forest Grove-Cornelius has remained a Seller's Market.
Key Takeaway
Forest Grove-Cornelius is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Forest Grove-Cornelius, OR
How much do homes in Forest Grove-Cornelius, OR cost?
Median Sold Price
$523,400
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Forest Grove-Cornelius have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Forest Grove-Cornelius was $523,400 in May 2024, up 2.6% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $155K | -45.6% |
| 2 Bedrooms | $390K | $374K | -4.1% |
| 3 Bedrooms | $477.5K | $479.4K | 0.4% |
| 4 Bedrooms | $585K | $600K | +2.6% |
| 5+ Bedrooms | $680K | $657.8K | -3.3% |
Summary: Forest Grove-Cornelius housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.6%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 3.3%.
Median Sold Price Compared To Nearby Cities
| Cornelius | $475K | $500K | +5.3% |
| Forest Grove | $522.6K | $541.9K | +3.7% |
| Forest Grove-Cornelius | $510K | $523.4K | +2.6% |
| Chehalem Mountains | $787K | $805.5K | +2.4% |
| North Plains | $565K | $543.9K | -3.7% |
Housing Supply in Forest Grove-Cornelius, OR
How many homes are available in Forest Grove-Cornelius, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 179 | 176 | -1.7% |
Summary: The Forest Grove-Cornelius real estate market had 176 homes for sale in May 2024, a 1.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 11 | 13 | +18.2% |
| 3 Bedrooms | 98 | 86 | -12.2% |
| 4 Bedrooms | 41 | 52 | +26.8% |
| 5+ Bedrooms | 29 | 24 | -17.2% |
Summary: The Forest Grove-Cornelius housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes decreased by 17.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 49 | 0.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Grove-Cornelius, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 49 homes were sold or pending in Forest Grove-Cornelius in May 2024, the same as the previous month. Of the 49 sold homes, 31% were sold under asking, 27% were sold at asking, and 43% were sold over asking.
Days on Market for Forest Grove-Cornelius, OR
How long does it take to sell a home in Forest Grove-Cornelius, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 59 Days | +80.7% |
Summary: Homes in Forest Grove-Cornelius had an average of 59 days on market in May 2024, up by 80.7% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest Grove-Cornelius are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 49 homes were sold in Forest Grove-Cornelius; 55% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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