$5,047 Closing Credit*
$425,000
1,152 SqFt
2 Beds
•2 Full Baths
Pamela Ackley, Listing Office: Windermere Realty Trust
Is Gearhart, 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, Gearhart has remained a Seller's Market.
Key Takeaway
Gearhart is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gearhart, OR
How much do homes in Gearhart, OR cost?
Median Sold Price
$730,000
$399/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$91,000(+14.2%)
Key Takeaway
Homes in Gearhart have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Gearhart was $730,000 in October 2024, up 14.2% from last year, and the median price per square foot was $399.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $366.4K | - | N/A |
| 2 Bedrooms | $634K | $487K | -23.2% |
| 3 Bedrooms | $614K | $675K | +9.9% |
| 4 Bedrooms | $1.1M | $884K | -19.6% |
| 5+ Bedrooms | $895K | - | N/A |
Summary: Gearhart 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 decreased by 23.2%, 3 bedroom homes increased by 9.9%, 4 bedroom homes decreased by 19.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Gearhart | $639K | $730K | +14.2% |
| Seaside | $567K | $553.1K | -2.4% |
Housing Supply in Gearhart, OR
How many homes are available in Gearhart, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 21 | -12.5% |
Summary: The Gearhart real estate market had 21 homes for sale in October 2024, a 12.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Gearhart 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 100%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Gearhart, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Gearhart in October 2024, down by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Gearhart, OR
How long does it take to sell a home in Gearhart, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 113 Days | 52 Days | -53.4% |
Summary: Homes in Gearhart had an average of 52 days on market in Oct 2024, down by 53.4% compared to last year.
Breakdown of Home Sale Times
3 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 Gearhart are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Gearhart; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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