Is 97016, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97016 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 97016 was a Neutral Market.

Key Takeaway

97016 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 97016, OR

How much do homes in 97016, OR cost?

Median Sold Price

$375,000

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$33,068(-8.1%)

Key Takeaway

Homes in 97016 have sold for 8.1% less than they did a year ago.

Summary: The median home sold price in 97016 was $375,000 in October 2024, down 8.1% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $365K-
N/A
2 $334.5K$323.5K
-3.3%
3 $400K$399K
-0.3%
4 $411.5K$380K
-7.7%
5+ $493.8K$542K
+9.8%

Summary: 97016 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.3%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 9.8%.

Median Sold Price Compared To Nearby Zip Codes

97048
+20.2%
97103
+2.7%
97138
-2.9%
97064
-6.7%
97016
-8.1%

Housing Supply in 97016, OR

How many homes are available in 97016, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3743+16.2%

Summary: The 97016 real estate market had 43 homes for sale in October 2024, a 16.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 79
+28.6%
3 2124
+14.3%
4 66
0.0%
5+ 34
+33.3%

Summary: The 97016 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97016, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in 97016 in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for 97016, OR

How long does it take to sell a home in 97016, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
122 Days39 Days-67.6%

Summary: Homes in 97016 had an average of 39 days on market in Oct 2024, down by 67.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 97016 has remained consistent over time.

Summary: During October 2024, 3 homes were sold in 97016; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% 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 97016, OR

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