Is 97078, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97078 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 97078 was a Seller's Market.

Key Takeaway

97078 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 97078, OR

How much do homes in 97078, OR cost?

Median Sold Price

$529,502

$322/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$16,717(+3.3%)

Key Takeaway

Homes in 97078 have sold for 3.3% more than they did a year ago.

Summary: The median home sold price in 97078 was $529,502 in October 2024, up 3.3% from last year, and the median price per square foot was $322.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $412.3K$425K
+3.1%
3 $500K$518.8K
+3.8%
4 $572.5K$597.1K
+4.3%
5+ $680K$842.5K
+23.9%

Summary: 97078 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 3.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 23.9%.

Median Sold Price Compared To Nearby Zip Codes

97005
+10.6%
97078
+3.3%
97003
+3.0%
97007
+2.7%
97123
+0.9%

Housing Supply in 97078, OR

How many homes are available in 97078, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
122134+9.8%

Summary: The 97078 real estate market had 134 homes for sale in October 2024, a 9.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 58
+60.0%
3 9195
+4.4%
4 2630
+15.4%
5+ 01
+100.0%

Summary: The 97078 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 60%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2721-22.2%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97078, you could pay more than the asking price. 38.1% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in 97078 in October 2024, down by 22.2% month-over-month. Of the 21 sold homes, 29% were sold under asking, 33% were sold at asking, and 38% were sold over asking.

Days on Market for 97078, OR

How long does it take to sell a home in 97078, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days53 Days+209.0%

Summary: Homes in 97078 had an average of 53 days on market in Oct 2024, up by 209% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 97078 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 21 homes were sold in 97078; 57% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 19% 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 97078, OR

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