Is Milwaukie, 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, Milwaukie has remained a Seller's Market.
Key Takeaway
Milwaukie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milwaukie, OR
How much do homes in Milwaukie, OR cost?
Median Sold Price
$497,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Milwaukie have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Milwaukie was $497,000 in May 2024, up 1.6% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | - | N/A |
| 2 Bedrooms | $375.7K | $364.5K | -3.0% |
| 3 Bedrooms | $489.5K | $489K | -0.1% |
| 4 Bedrooms | $574K | $557K | -3.0% |
| 5+ Bedrooms | $710K | $870K | +22.5% |
Summary: Milwaukie 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 3%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 22.5%.
Median Sold Price Compared To Nearby Cities
| Milwaukie | $489K | $497K | +1.6% |
| Portland | $532.1K | $538.6K | +1.2% |
| Northwest Clackamas | $620.6K | $625.1K | +0.7% |
| Portland East | $503K | $493K | -2.0% |
Housing Supply in Milwaukie, OR
How many homes are available in Milwaukie, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 57 | +18.8% |
Summary: The Milwaukie real estate market had 57 homes for sale in May 2024, a 18.8% increase 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 | 8 | 9 | +12.5% |
| 3 Bedrooms | 25 | 32 | +28.0% |
| 4 Bedrooms | 12 | 8 | -33.3% |
| 5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The Milwaukie 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 12.5%, 3 bedroom homes increased by 28%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milwaukie, you could pay more than the asking price. 47.6% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Milwaukie in May 2024, up by 31.3% month-over-month. Of the 21 sold homes, 24% were sold under asking, 29% were sold at asking, and 48% were sold over asking.
Days on Market for Milwaukie, OR
How long does it take to sell a home in Milwaukie, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 45 Days | +232.0% |
Summary: Homes in Milwaukie had an average of 45 days on market in May 2024, up by 232% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Milwaukie are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Milwaukie; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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.