Is 97224, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97224 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 97224 has remained a Seller's Market.

Key Takeaway

97224 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 97224, OR

How much do homes in 97224, OR cost?

Median Sold Price

$599,475

$298/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,421(+1.8%)

Key Takeaway

Homes in 97224 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 97224 was $599,475 in October 2024, up 1.8% from last year, and the median price per square foot was $298.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $205.5K$190K
-7.5%
2 $400.5K$399K
-0.4%
3 $580K$597.2K
+3.0%
4 $715K$699.2K
-2.2%
5+ $821.5K$837.4K
+1.9%

Summary: 97224 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 1.9%.

Median Sold Price Compared To Nearby Zip Codes

97035
+4.9%
97140
+3.2%
97224
+1.8%
97223
+1.7%
97062
-2.1%

Housing Supply in 97224, OR

How many homes are available in 97224, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
274267-2.6%

Summary: The 97224 real estate market had 267 homes for sale in October 2024, a 2.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 67
+16.7%
2 5955
-6.8%
3 6968
-1.4%
4 9390
-3.2%
5+ 4747
0.0%

Summary: The 97224 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5348-9.4%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97224, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in 97224 in October 2024, down by 9.4% month-over-month. Of the 48 sold homes, 44% were sold under asking, 31% were sold at asking, and 25% were sold over asking.

Days on Market for 97224, OR

How long does it take to sell a home in 97224, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
52 Days57 Days+9.4%

Summary: Homes in 97224 had an average of 57 days on market in Oct 2024, up by 9.4% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 97224 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 48 homes were sold in 97224; 50% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 23% 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 21 Days Ago

Newest Listings in 97224, OR

Nearby Markets to 97224, OR