$5,344 Closing Credit*
$450,000
892 SqFt
2 Beds
•1 Full Bath
Emily Volk, Listing Office: Karen Volk Realty
Is Melrose, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Melrose was a Buyer's Market.
Key Takeaway
Melrose is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Melrose, OR
How much do homes in Melrose, OR cost?
Median Sold Price
$751,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$195,000(+35.1%)
Key Takeaway
Homes in Melrose have sold for 35.1% more than they did a year ago.
Summary: The median home sold price in Melrose was $751,000 in October 2024, up 35.1% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $485K | N/A |
| 2 Bedrooms | $465.5K | $606K | +30.2% |
| 3 Bedrooms | $620K | $670K | +8.1% |
| 4 Bedrooms | $562K | $784.5K | +39.6% |
| 5+ Bedrooms | - | $795K | N/A |
Summary: Melrose 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 increased by 30.2%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 39.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Melrose | $556K | $751K | +35.1% |
| Tenmile | $340K | $354.2K | +4.2% |
| 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Summary: The Melrose real estate market had 28 homes for sale in October 2024, a 3.4% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Melrose 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 remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Melrose, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Melrose in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 64 Days | 8 Days | -87.1% |
Summary: Homes in Melrose had an average of 8 days on market in Oct 2024, down by 87.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 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 October 2024, 4 homes were sold in Melrose; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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