Is Gresham, 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, Gresham has remained a Seller's Market.
Key Takeaway
Gresham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gresham, OR
How much do homes in Gresham, OR cost?
Median Sold Price
$475,386
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gresham have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Gresham was $475,386 in May 2024, up 1.2% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $185K | 0.0% |
| 2 Bedrooms | $300K | $285K | -5.0% |
| 3 Bedrooms | $444.9K | $450K | +1.1% |
| 4 Bedrooms | $538.4K | $534.9K | -0.6% |
| 5+ Bedrooms | $555K | $559.9K | +0.9% |
Summary: Gresham 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 5%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Wood Village | $377.5K | $399.8K | +5.9% |
| Gresham | $469.7K | $475.3K | +1.2% |
| Troutdale | $465K | $470.5K | +1.2% |
| Fairview | $457K | $455K | -0.4% |
| Portland East | $503K | $493K | -2.0% |
Housing Supply in Gresham, OR
How many homes are available in Gresham, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 333 | 363 | +9.0% |
Summary: The Gresham real estate market had 363 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 37 | 43 | +16.2% |
| 3 Bedrooms | 147 | 178 | +21.1% |
| 4 Bedrooms | 109 | 102 | -6.4% |
| 5+ Bedrooms | 34 | 35 | +2.9% |
Summary: The Gresham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 21.1%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 2.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 77 | 75 | -2.6% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gresham, expect to pay close to the asking price. 38.7% of homes here sold near the asking price last month.
Summary: A total of 75 homes were sold or pending in Gresham in May 2024, down by 2.6% month-over-month. Of the 75 sold homes, 31% were sold under asking, 39% were sold at asking, and 31% were sold over asking.
Days on Market for Gresham, OR
How long does it take to sell a home in Gresham, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 36 Days | +47.2% |
Summary: Homes in Gresham had an average of 36 days on market in May 2024, up by 47.2% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gresham are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 75 homes were sold in Gresham; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% 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.