Is Hillsboro, 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, Hillsboro has remained a Seller's Market.
Key Takeaway
Hillsboro is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsboro, OR
How much do homes in Hillsboro, OR cost?
Median Sold Price
$537,639
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hillsboro have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Hillsboro was $537,639 in May 2024, up 4.5% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $304K | $310.2K | +2.1% |
| 2 Bedrooms | $394.7K | $400K | +1.3% |
| 3 Bedrooms | $505K | $524.9K | +4.0% |
| 4 Bedrooms | $615.1K | $627K | +1.9% |
| 5+ Bedrooms | $708K | $760K | +7.3% |
Summary: Hillsboro housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Rockcreek | $613K | $648.3K | +5.8% |
| Hillsboro | $514.5K | $537.6K | +4.5% |
| Forest Grove-Cornelius | $510K | $523.4K | +2.6% |
| Chehalem Mountains | $787K | $805.5K | +2.4% |
| Beaverton-Hillsboro | $565.1K | $574.7K | +1.7% |
Housing Supply in Hillsboro, OR
How many homes are available in Hillsboro, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 380 | 423 | +11.3% |
Summary: The Hillsboro real estate market had 423 homes for sale in May 2024, a 11.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 41 | 58 | +41.5% |
| 3 Bedrooms | 197 | 219 | +11.2% |
| 4 Bedrooms | 111 | 117 | +5.4% |
| 5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The Hillsboro housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 41.5%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 89 | 110 | +23.6% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsboro, you could pay more than the asking price. 38.2% of homes here sold above asking price last month.
Summary: A total of 110 homes were sold or pending in Hillsboro in May 2024, up by 23.6% month-over-month. Of the 110 sold homes, 35% were sold under asking, 27% were sold at asking, and 38% were sold over asking.
Days on Market for Hillsboro, OR
How long does it take to sell a home in Hillsboro, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 46 Days | +61.8% |
Summary: Homes in Hillsboro had an average of 46 days on market in May 2024, up by 61.8% compared to last year.
Breakdown of Home Sale Times
73 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hillsboro are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 110 homes were sold in Hillsboro; 66% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 16% 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.