Is Southwest, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southwest has remained a Seller'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
$530,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southwest have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Southwest was $530,000 in May 2024, up 9.3% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $345K | $355K | +2.9% |
| 3 Bedrooms | $465K | $495K | +6.5% |
| 4 Bedrooms | $574.9K | $763.3K | +32.8% |
| 5+ Bedrooms | $850K | $875K | +2.9% |
Summary: Southwest 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 2.9%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 32.8%, and 5+ bedroom homes increased by 2.9%.
Housing Supply in Southwest, OR
How many homes are available in Southwest, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 21 | 0.0% |
Summary: The Southwest real estate market had 21 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Southwest 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 remained the same, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Southwest in May 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 160 Days | +644.2% |
Summary: Homes in Southwest had an average of 160 days on market in May 2024, up by 644.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Southwest are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 4 homes were sold in Southwest; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
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