Is 97123, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97123 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 97123 has remained a Seller's Market.

Key Takeaway

97123 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 97123, OR

How much do homes in 97123, OR cost?

Median Sold Price

$524,820

$301/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$4,653(+0.9%)

Key Takeaway

Homes in 97123 have sold for 0.9% more than they did a year ago.

Summary: The median home sold price in 97123 was $524,820 in October 2024, up 0.9% from last year, and the median price per square foot was $301.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $329.5K$382.5K
+16.1%
2 $395K$401.1K
+1.6%
3 $500K$515K
+3.0%
4 $618K$602.5K
-2.5%
5+ $730K$694K
-4.9%

Summary: 97123 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 4.9%.

Median Sold Price Compared To Nearby Zip Codes

97113
+7.3%
97078
+3.3%
97003
+3.0%
97007
+2.7%
97123
+0.9%

Housing Supply in 97123, OR

How many homes are available in 97123, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
223199-10.8%

Summary: The 97123 real estate market had 199 homes for sale in October 2024, a 10.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2318
-21.7%
3 10993
-14.7%
4 7469
-6.8%
5+ 1618
+12.5%

Summary: The 97123 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 decreased by 21.7%, 3 bedroom homes decreased by 14.7%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4852+8.3%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97123, expect to pay close to the asking price. 36.5% of homes here sold near the asking price last month.

Summary: A total of 52 homes were sold or pending in 97123 in October 2024, up by 8.3% month-over-month. Of the 52 sold homes, 33% were sold under asking, 37% were sold at asking, and 31% were sold over asking.

Days on Market for 97123, OR

How long does it take to sell a home in 97123, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
70 Days36 Days-48.7%

Summary: Homes in 97123 had an average of 36 days on market in Oct 2024, down by 48.7% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 97123 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 52 homes were sold in 97123; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% 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

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