$6,116 Closing Credit*
$515,000
2,272 SqFt
3 Beds
•2 Full Baths
Stacy Rejaian, Listing Office: Olympic Realty
Is Polk County, 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, Polk County has remained a Seller's Market.
Key Takeaway
Polk County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Polk County, OR
How much do homes in Polk County, OR cost?
Median Sold Price
$440,000
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$29,000(-6.2%)
Key Takeaway
Homes in Polk County have sold for 6.2% less than they did a year ago.
Summary: The median home sold price in Polk County was $440,000 in October 2024, down 6.2% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $377.5K | $579K | +53.4% |
| 2 Bedrooms | $359K | $351K | -2.2% |
| 3 Bedrooms | $444K | $431.2K | -2.9% |
| 4 Bedrooms | $564.5K | $536K | -5.0% |
| 5+ Bedrooms | $635K | $640K | +0.8% |
Summary: Polk County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.4%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Counties
| Lincoln County | $480K | $510K | +6.3% |
| Marion County | $438.3K | $444.3K | +1.4% |
| Yamhill County | $479.8K | $485.1K | +1.1% |
| Polk County | $469K | $440K | -6.2% |
Housing Supply in Polk County, OR
How many homes are available in Polk County, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 181 | 159 | -12.2% |
Summary: The Polk County real estate market had 159 homes for sale in October 2024, a 12.2% 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 | 24 | 19 | -20.8% |
| 3 Bedrooms | 84 | 81 | -3.6% |
| 4 Bedrooms | 56 | 47 | -16.1% |
| 5+ Bedrooms | 15 | 10 | -33.3% |
Summary: The Polk County 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 decreased by 20.8%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes decreased by 16.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 29 | -29.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Polk County, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in Polk County in October 2024, down by 29.3% month-over-month. Of the 29 sold homes, 45% were sold under asking, 31% were sold at asking, and 24% were sold over asking.
Days on Market for Polk County, OR
How long does it take to sell a home in Polk County, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 45 Days | -5.5% |
Summary: Homes in Polk County had an average of 45 days on market in Oct 2024, down by 5.5% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Polk County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in Polk County; 52% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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