$10,000 Closing Credit*
$1,175,000
3,236 SqFt
5 Beds
•3 Full Baths
Randy Willner, Lorrie Willner, Listing Office: Willner Properties LLC
Is Banks, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Banks has remained a Seller's Market.
Key Takeaway
Banks is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Banks, OR
How much do homes in Banks, OR cost?
Median Sold Price
$449,500
$321/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$126,500(-22.0%)
Key Takeaway
Homes in Banks have sold for 22% less than they did a month ago.
Summary: The median home sold price in Banks was $449,500 in October 2024, down 22% from last month, and the median price per square foot was $321.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $449.5K | N/A |
| 4 Bedrooms | $555.4K | - | N/A |
| 5+ Bedrooms | $1.0M | - | N/A |
Summary: Banks housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Banks, OR
How many homes are available in Banks, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Banks real estate market had 15 homes for sale in October 2024, a 6.3% decrease 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Banks 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 remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Banks, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Banks in October 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Banks, OR
How long does it take to sell a home in Banks, OR?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 57 Days | +69.6% |
Summary: Homes in Banks had an average of 57 days on market in Oct 2024, up by 69.6% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Banks are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Banks; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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