Is 97401, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 97401 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 97401 has remained a Seller's Market.

Key Takeaway

97401 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 97401, OR

How much do homes in 97401, OR cost?

Median Sold Price

$525,500

$321/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$27,166(+5.5%)

Key Takeaway

Homes in 97401 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 97401 was $525,500 in October 2024, up 5.5% from last year, and the median price per square foot was $321.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $320K$341K
+6.6%
2 $389K$383K
-1.5%
3 $489.9K$530K
+8.2%
4 $597.5K$634K
+6.1%
5+ $880K$678.5K
-22.9%

Summary: 97401 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 22.9%.

Median Sold Price Compared To Nearby Zip Codes

97401
+5.5%
97408
+4.5%
97477
+2.6%
97404
-2.2%
97403
-8.1%

Housing Supply in 97401, OR

How many homes are available in 97401, OR?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
113118+4.4%

Summary: The 97401 real estate market had 118 homes for sale in October 2024, a 4.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 1917
-10.5%
3 4047
+17.5%
4 3635
-2.8%
5+ 1416
+14.3%

Summary: The 97401 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2420-16.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 97401, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in 97401 in October 2024, down by 16.7% month-over-month. Of the 20 sold homes, 45% were sold under asking, 20% were sold at asking, and 35% were sold over asking.

Days on Market for 97401, OR

How long does it take to sell a home in 97401, OR?

Average Sale Time

Oct 2023Oct 2024CHANGE
46 Days32 Days-29.2%

Summary: Homes in 97401 had an average of 32 days on market in Oct 2024, down by 29.2% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 97401 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 20 homes were sold in 97401; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 10% 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

Newest Listings in 97401, OR

Nearby Markets to 97401, OR