Is 97007, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97007 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 97007 has remained a Seller's Market.

Key Takeaway

97007 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 97007, OR

How much do homes in 97007, OR cost?

Median Sold Price

$615,000

$298/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$16,400(+2.7%)

Key Takeaway

Homes in 97007 have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in 97007 was $615,000 in October 2024, up 2.7% from last year, and the median price per square foot was $298.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $256K$275K
+7.4%
2 $367.5K$367.5K
0.0%
3 $530K$543.5K
+2.5%
4 $705K$714.9K
+1.4%
5+ $788.3K$835K
+5.9%

Summary: 97007 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Zip Codes

97005
+10.6%
97078
+3.3%
97007
+2.7%
97008
+1.7%
97223
+1.7%

Housing Supply in 97007, OR

How many homes are available in 97007, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2942950.3%

Summary: The 97007 real estate market had 295 homes for sale in October 2024, a 0.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 3437
+8.8%
3 106102
-3.8%
4 98105
+7.1%
5+ 5548
-12.7%

Summary: The 97007 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 12.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5161+19.6%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97007, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.

Summary: A total of 61 homes were sold or pending in 97007 in October 2024, up by 19.6% month-over-month. Of the 61 sold homes, 48% were sold under asking, 33% were sold at asking, and 20% were sold over asking.

Days on Market for 97007, OR

How long does it take to sell a home in 97007, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
37 Days61 Days+64.1%

Summary: Homes in 97007 had an average of 61 days on market in Oct 2024, up by 64.1% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 97007 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 61 homes were sold in 97007; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in 97007, OR

Nearby Markets to 97007, OR