Is 97116, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 97116 has remained a Seller's Market.
Key Takeaway
97116 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 97116, OR
How much do homes in 97116, OR cost?
Median Sold Price
$542,800
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 97116 have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in 97116 was $542,800 in April 2024, up 1.8% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $155K | -39.2% |
| 2 Bedrooms | $390K | $362.5K | -7.1% |
| 3 Bedrooms | $490K | $480K | -2.0% |
| 4 Bedrooms | $599.9K | $601.4K | 0.3% |
| 5+ Bedrooms | $686.9K | $666.1K | -3.0% |
Summary: 97116 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.2%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 3%.
Housing Supply in 97116, OR
How many homes are available in 97116, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 95 | 100 | +5.3% |
Summary: The 97116 real estate market had 100 homes for sale in April 2024, a 5.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 9 | +200.0% |
| 3 Bedrooms | 51 | 48 | -5.9% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 20 | 20 | 0.0% |
Summary: The 97116 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 30 | +25.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 97116, you could pay more than the asking price. 43.3% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in 97116 in April 2024, up by 25.0% month-over-month. Of the 30 sold homes, 33% were sold under asking, 23% were sold at asking, and 43% were sold over asking.
Days on Market for 97116, OR
How long does it take to sell a home in 97116, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 78 Days | 54 Days | -30.1% |
Summary: Homes in 97116 had an average of 54 days on market in Apr 2024, down by 30.1% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 97116 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 30 homes were sold in 97116; 57% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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