$4,452 Closing Credit*
$374,900
1,202 SqFt
3 Beds
•1 Full Bath
Tarah Pond, Listing Office: RE/MAX Equity Group
Is 97116, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 97116 was a Seller's Market.
Key Takeaway
97116 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 97116, OR
How much do homes in 97116, OR cost?
Median Sold Price
$528,125
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$25,975(-4.7%)
Key Takeaway
Homes in 97116 have sold for 4.7% less than they did a year ago.
Summary: The median home sold price in 97116 was $528,125 in November 2024, down 4.7% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | - | N/A |
| 2 Bedrooms | $385K | $375.5K | -2.5% |
| 3 Bedrooms | $477K | $499.7K | +4.8% |
| 4 Bedrooms | $600K | $592.5K | -1.3% |
| 5+ Bedrooms | $663.7K | $672.4K | +1.3% |
Summary: 97116 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 1.3%.
Housing Supply in 97116, OR
How many homes are available in 97116, OR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 107 | 101 | -5.6% |
Summary: The 97116 real estate market had 101 homes for sale in November 2024, a 5.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 10 | -28.6% |
| 3 Bedrooms | 44 | 44 | 0.0% |
| 4 Bedrooms | 34 | 32 | -5.9% |
| 5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The 97116 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 15 | -31.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 97116, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in 97116 in November 2024, down by 31.8% month-over-month. Of the 15 sold homes, 27% were sold under asking, 33% were sold at asking, and 40% were sold over asking.
Days on Market for 97116, OR
How long does it take to sell a home in 97116, OR?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 28 Days | 66 Days | +135.3% |
Summary: Homes in 97116 had an average of 66 days on market in Nov 2024, up by 135.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 97116 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 97116; 40% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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