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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hermiston is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Hermiston, OR

How much do homes in Hermiston, OR cost?

Median Sold Price

$348,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$7,854(+2.3%)

Key Takeaway

Homes in Hermiston have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Hermiston was $348,000 in November 2024, up 2.3% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $90K-
N/A
2 $235K$212.5K
-9.6%
3 $335K$336.8K
0.5%
4 $394.9K$403.8K
+2.3%
5+ $417.5K$534.3K
+28.0%

Summary: Hermiston housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.6%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 28%.

Median Sold Price Compared To Nearby Cities

Hermiston-Umatilla
+7.5%
Hermiston
+2.3%

Housing Supply in Hermiston, OR

How many homes are available in Hermiston, OR?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
122108-11.5%

Summary: The Hermiston real estate market had 108 homes for sale in November 2024, a 11.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 1516
+6.7%
3 6656
-15.2%
4 3532
-8.6%
5+ 42
-50.0%

Summary: The Hermiston housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2324+4.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hermiston, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Hermiston in November 2024, up by 4.3% month-over-month. Of the 24 sold homes, 42% were sold under asking, 29% were sold at asking, and 29% were sold over asking.

Days on Market for Hermiston, OR

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

Average Sale Time

Nov 2023Nov 2024CHANGE
69 Days79 Days+14.6%

Summary: Homes in Hermiston had an average of 79 days on market in Nov 2024, up by 14.6% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 24 homes were sold in Hermiston; 46% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 29% 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 17 Days Ago

Newest Listings in Hermiston, OR

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