$3,266 Closing Credit*
$275,000
690 SqFt
2 Beds
•1 Full Bath
Daniel Ramirez, Listing Office: eXp Realty LLC
Is Southwest, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Southwest was a Buyer's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, OR
How much do homes in Southwest, OR cost?
Median Sold Price
$605,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$88,500(+17.1%)
Key Takeaway
Homes in Southwest have sold for 17.1% more than they did a year ago.
Summary: The median home sold price in Southwest was $605,000 in November 2024, up 17.1% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $324K | N/A |
| 2 Bedrooms | $347.5K | $362.5K | +4.3% |
| 3 Bedrooms | $492.5K | $529.9K | +7.6% |
| 4 Bedrooms | $632K | $706.7K | +11.8% |
| 5+ Bedrooms | $937K | $816K | -12.9% |
Summary: Southwest 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 increased by 4.3%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 12.9%.
Housing Supply in Southwest, OR
How many homes are available in Southwest, OR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 17 | -19.0% |
Summary: The Southwest real estate market had 17 homes for sale in November 2024, a 19.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 10 | 6 | -40.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Southwest in November 2024, down by 50.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Southwest, OR
How long does it take to sell a home in Southwest, OR?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 34 Days | +5.6% |
Summary: Homes in Southwest had an average of 34 days on market in Nov 2024, up by 5.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Southwest; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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