Is 97038, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97038 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 97038 has remained a Seller's Market.

Key Takeaway

97038 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 97038, OR

How much do homes in 97038, OR cost?

Median Sold Price

$485,250

$284/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,350(+5.5%)

Key Takeaway

Homes in 97038 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 97038 was $485,250 in October 2024, up 5.5% from last year, and the median price per square foot was $284.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $365K$418.7K
+14.7%
3 $455K$469K
+3.1%
4 $482.2K$512K
+6.2%
5+ $912.5K$589.9K
-35.4%

Summary: 97038 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 increased by 14.7%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 35.4%.

Median Sold Price Compared To Nearby Zip Codes

97038
+5.5%
97362
-1.5%
97017
-20.0%

Housing Supply in 97038, OR

How many homes are available in 97038, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4645-2.2%

Summary: The 97038 real estate market had 45 homes for sale in October 2024, a 2.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 33
0.0%
3 2624
-7.7%
4 1211
-8.3%
5+ 57
+40.0%

Summary: The 97038 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 remained the same, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
611+83.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97038, expect to pay close to the asking price. 54.5% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in 97038 in October 2024, up by 83.3% month-over-month. Of the 11 sold homes, 27% were sold under asking, 55% were sold at asking, and 18% were sold over asking.

Days on Market for 97038, OR

How long does it take to sell a home in 97038, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
41 Days56 Days+35.5%

Summary: Homes in 97038 had an average of 56 days on market in Oct 2024, up by 35.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 97038 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 97038; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% 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 97038, OR

Nearby Markets to 97038, OR