$130,000
0.12 Acres
Land
Kirk Sherrill, Listing Office: Premiere Property Group, LLC
Is 97116, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 97116 has remained a Seller's Market.
Key Takeaway
97116 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 97116, OR
How much do homes in 97116, OR cost?
Median Sold Price
$535,000
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,962(-1.8%)
Key Takeaway
Homes in 97116 have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in 97116 was $535,000 in October 2024, down 1.8% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | - | N/A |
| 2 Bedrooms | $373.7K | $399.7K | +6.9% |
| 3 Bedrooms | $477K | $499.4K | +4.7% |
| 4 Bedrooms | $600K | $595.4K | -0.8% |
| 5+ Bedrooms | $663.7K | $669.9K | +0.9% |
Summary: 97116 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 6.9%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Zip Codes
| 97116 | $544.9K | $535K | -1.8% |
| 97106 | $635K | $560K | -11.8% |
Housing Supply in 97116, OR
How many homes are available in 97116, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 107 | 109 | +1.9% |
Summary: The 97116 real estate market had 109 homes for sale in October 2024, a 1.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 13 | +44.4% |
| 3 Bedrooms | 42 | 43 | +2.4% |
| 4 Bedrooms | 41 | 35 | -14.6% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The 97116 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 44.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 97116, expect to pay close to the asking price. 45% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in 97116 in October 2024, down by 9.1% month-over-month. Of the 20 sold homes, 15% were sold under asking, 45% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 55 Days | +85.4% |
Summary: Homes in 97116 had an average of 55 days on market in Oct 2024, up by 85.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 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 October 2024, 20 homes were sold in 97116; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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