Is Damascus, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Damascus was a Seller's Market.
Key Takeaway
Damascus is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Damascus, OR
How much do homes in Damascus, OR cost?
Median Sold Price
$670,000
$283/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Damascus have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Damascus was $670,000 in May 2024, up 3.1% from last year, and the median price per square foot was $283.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $466K | $545K | +17.0% |
| 3 Bedrooms | $599K | $567K | -5.3% |
| 4 Bedrooms | $690K | $750K | +8.7% |
| 5+ Bedrooms | $715K | $660K | -7.7% |
Summary: Damascus housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 7.7%.
Median Sold Price Compared To Nearby Cities
| Boring | $635K | $778.7K | +22.6% |
| Damascus | $650K | $670K | +3.1% |
| Clackamas | $580K | $590K | +1.7% |
| Gresham | $469.7K | $475.3K | +1.2% |
| Happy Valley | $691.9K | $651.7K | -5.8% |
Housing Supply in Damascus, OR
How many homes are available in Damascus, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 60 | +11.1% |
Summary: The Damascus real estate market had 60 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 26 | 28 | +7.7% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Damascus housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Damascus, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Damascus in May 2024, down by 20.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Damascus, OR
How long does it take to sell a home in Damascus, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 7 Days | -61.6% |
Summary: Homes in Damascus had an average of 7 days on market in May 2024, down by 61.6% compared to last year.
Breakdown of Home Sale Times
8 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 Damascus are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Damascus; 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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