$6,472 Closing Credit*
$545,000
1,704 SqFt
Amy Cerruti, Listing Office: eXp Realty, LLC
Is Northwest, 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, Northwest has remained a Seller's Market.
Key Takeaway
Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest, OR
How much do homes in Northwest, OR cost?
Median Sold Price
$467,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,000(+0.4%)
Key Takeaway
The sold price of homes in Northwest has remained the same since last year.
Summary: The median home sold price in Northwest was $467,000 in October 2024, up 0.4% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $350K | $390K | +11.4% |
| 3 Bedrooms | $465K | $440K | -5.4% |
| 4 Bedrooms | $492K | $500K | +1.6% |
| 5+ Bedrooms | $545K | $595K | +9.2% |
Summary: Northwest 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 11.4%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 9.2%.
Housing Supply in Northwest, OR
How many homes are available in Northwest, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 29 | -6.5% |
Summary: The Northwest real estate market had 29 homes for sale in October 2024, a 6.5% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 18 | 15 | -16.7% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Northwest 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 decreased by 16.7%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Northwest in October 2024, the same as the previous month. Of the 7 sold homes, 14% were sold under asking, 57% were sold at asking, and 29% were sold over asking.
Days on Market for Northwest, OR
How long does it take to sell a home in Northwest, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 36 Days | -5.5% |
Summary: Homes in Northwest had an average of 36 days on market in Oct 2024, down by 5.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Northwest are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Northwest; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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