$2,791 Closing Credit*
$235,000
1,580 SqFt
2 Beds
•1 Full Bath
Michele McCormack, Listing Office: eXp Realty LLC
Is South Umpqua, 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, South Umpqua has remained a Buyer's Market.
Key Takeaway
South Umpqua is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Umpqua, OR
How much do homes in South Umpqua, OR cost?
Median Sold Price
$322,500
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,500(+2.4%)
Key Takeaway
Homes in South Umpqua have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in South Umpqua was $322,500 in October 2024, up 2.4% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $142K | -46.4% |
| 2 Bedrooms | $278.7K | $310K | +11.2% |
| 3 Bedrooms | $355K | $332K | -6.5% |
| 4 Bedrooms | $305K | $502.4K | +64.7% |
| 5+ Bedrooms | $283.7K | $475.9K | +67.8% |
Summary: South Umpqua housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.4%, 2 bedroom homes increased by 11.2%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 64.7%, and 5+ bedroom homes increased by 67.8%.
Median Sold Price Compared To Nearby Cities
| Tenmile | $340K | $354.2K | +4.2% |
| South Umpqua | $315K | $322.5K | +2.4% |
| Myrtle Creek-Riddle | $291K | $293.5K | +0.9% |
Housing Supply in South Umpqua, OR
How many homes are available in South Umpqua, OR?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 30 | +15.4% |
Summary: The South Umpqua real estate market had 30 homes for sale in October 2024, a 15.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The South Umpqua housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South Umpqua, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in South Umpqua in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for South Umpqua, OR
How long does it take to sell a home in South Umpqua, OR?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 55 Days | 14 Days | -74.5% |
Summary: Homes in South Umpqua had an average of 14 days on market in Oct 2024, down by 74.5% compared to last year.
Breakdown of Home Sale Times
2 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 South Umpqua are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in South Umpqua; 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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