Is Brookings, 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, Brookings was a Neutral Market.
Key Takeaway
Brookings is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brookings, OR
How much do homes in Brookings, OR cost?
Median Sold Price
$525,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Brookings have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Brookings was $525,000 in May 2024, up 12.9% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $319K | $402.5K | +26.2% |
| 2 Bedrooms | $415K | $430K | +3.6% |
| 3 Bedrooms | $489.5K | $560K | +14.4% |
| 4 Bedrooms | $532K | $681.4K | +28.1% |
| 5+ Bedrooms | $500K | $812.6K | +62.5% |
Summary: Brookings housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.2%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 62.5%.
Housing Supply in Brookings, OR
How many homes are available in Brookings, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 111 | +9.9% |
Summary: The Brookings real estate market had 111 homes for sale in May 2024, a 9.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 20 | 25 | +25.0% |
| 3 Bedrooms | 53 | 56 | +5.7% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Brookings housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5.6%, 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
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Brookings, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Brookings in May 2024, down by 22.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Brookings, OR
How long does it take to sell a home in Brookings, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 67 Days | 91 Days | +35.2% |
Summary: Homes in Brookings had an average of 91 days on market in May 2024, up by 35.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brookings are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Brookings; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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