$9,322 Closing Credit*
$785,000
3,158 SqFt
4 Beds
•4 Full Baths
Michelle Kohlhoff, Listing Office: RE/MAX Integrity
Is Melrose, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Melrose has remained a Seller's Market.
Key Takeaway
Melrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Melrose, OR
How much do homes in Melrose, OR cost?
Median Sold Price
$735,000
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$185,000(+33.6%)
Key Takeaway
Homes in Melrose have sold for 33.6% more than they did a year ago.
Summary: The median home sold price in Melrose was $735,000 in November 2024, up 33.6% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $485K | - | N/A |
| 2 Bedrooms | $486K | $322K | -33.7% |
| 3 Bedrooms | $620K | $605K | -2.4% |
| 4 Bedrooms | $541K | $759.6K | +40.4% |
| 5+ Bedrooms | - | $795K | N/A |
Summary: Melrose 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 33.7%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 40.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Melrose | $550K | $735K | +33.6% |
| Tenmile | $335.9K | $354.6K | +5.6% |
| Kellogg-Yoncalla | $387.5K | $367.5K | -5.2% |
Housing Supply in Melrose, OR
How many homes are available in Melrose, OR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 31 | 29 | -6.5% |
Summary: The Melrose real estate market had 29 homes for sale in November 2024, a 6.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Melrose 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melrose, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Melrose in November 2024, up by 125.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Melrose, OR
How long does it take to sell a home in Melrose, OR?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 146 Days | 83 Days | -42.7% |
Summary: Homes in Melrose had an average of 83 days on market in Nov 2024, down by 42.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Melrose are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Melrose; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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