Is Monmouth-Independence, 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, Monmouth-Independence has remained a Seller's Market.
Housing Prices in Monmouth-Independence, OR
How much do homes in Monmouth-Independence, OR cost?
Median Sold Price
$450,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Monmouth-Independence was $450,000 in May 2024, up 5.9% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $438.8K | $526.9K | +20.1% |
3 Bedrooms | $409.9K | $450K | +9.8% |
4 Bedrooms | $462.5K | $434.9K | -6.0% |
5+ Bedrooms | $410K | $534.3K | +30.3% |
Summary: Monmouth-Independence 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 increased by 20.1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 30.3%.
Median Sold Price Compared To Nearby Cities
Monmouth | $449.9K | $574K | +27.6% |
Monmouth-Independence | $425K | $450K | +5.9% |
Independence | $407.7K | $422.5K | +3.6% |
Salem | $437.2K | $439.5K | 0.5% |
Housing Supply in Monmouth-Independence, OR
How many homes are available in Monmouth-Independence, OR?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 37 | -7.5% |
Summary: The Monmouth-Independence real estate market had 37 homes for sale in May 2024, a 7.5% decrease 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 | 3 | 3 | 0.0% |
3 Bedrooms | 24 | 22 | -8.3% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Monmouth-Independence 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 remained the same, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Monmouth-Independence in May 2024, down by 22.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for Monmouth-Independence, OR
How long does it take to sell a home in Monmouth-Independence, OR?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
60 Days | 54 Days | -11.2% |
Summary: Homes in Monmouth-Independence had an average of 54 days on market in May 2024, down by 11.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Monmouth-Independence; 71% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.