Is 97048, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97048 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 97048 has remained a Seller's Market.

Key Takeaway

97048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 97048, OR

How much do homes in 97048, OR cost?

Median Sold Price

$480,000

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$80,500(+20.2%)

Key Takeaway

Homes in 97048 have sold for 20.2% more than they did a year ago.

Summary: The median home sold price in 97048 was $480,000 in October 2024, up 20.2% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $130K$485K
+273.1%
2 $233K$247.5K
+6.2%
3 $395K$480.5K
+21.6%
4 $510K$577.5K
+13.2%
5+ $462.5K$382.5K
-17.3%

Summary: 97048 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 273.1%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 17.3%.

Median Sold Price Compared To Nearby Zip Codes

97048
+20.2%
97051
+2.3%
98625
-5.3%
97064
-6.7%

Housing Supply in 97048, OR

How many homes are available in 97048, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2520-20.0%

Summary: The 97048 real estate market had 20 homes for sale in October 2024, a 20.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1310
-23.1%
4 87
-12.5%
5+ 21
-50.0%

Summary: The 97048 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 23.1%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97048, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in 97048 in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 97048, OR

How long does it take to sell a home in 97048, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
45 Days85 Days+90.0%

Summary: Homes in 97048 had an average of 85 days on market in Oct 2024, up by 90% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 97048 has remained consistent over time.

Summary: During October 2024, 4 homes were sold in 97048; 25% of homes were sold within 30 days, 50% 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 20 Days Ago

Newest Listings in 97048, OR

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