Is 97131, 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, 97131 was a Neutral Market.
Key Takeaway
97131 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 97131, OR
How much do homes in 97131, OR cost?
Median Sold Price
$600,000
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 97131 have sold for 6.2% less than they did a year ago.
Summary: The median home sold price in 97131 was $600,000 in May 2024, down 6.3% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $626.8K | $367.5K | -41.4% |
| 3 Bedrooms | $699K | $632.2K | -9.5% |
| 4 Bedrooms | $625K | $708.5K | +13.4% |
| 5+ Bedrooms | $897K | $2.1M | +134.1% |
Summary: 97131 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 decreased by 41.4%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 134.1%.
Median Sold Price Compared To Nearby Zip Codes
| 97130 | $871K | $872K | 0.1% |
| 97136 | $534K | $515K | -3.6% |
| 97131 | $640K | $600K | -6.3% |
Housing Supply in 97131, OR
How many homes are available in 97131, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 21 | +61.5% |
Summary: The 97131 real estate market had 21 homes for sale in May 2024, a 61.5% 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 | 4 | 6 | +50.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 97131 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 increased by 50%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
0 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 97131, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in 97131 in May 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for 97131, OR
How long does it take to sell a home in 97131, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 5 Days | -66.7% |
Summary: Homes in 97131 had an average of 5 days on market in May 2024, down by 66.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 97131 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in 97131; 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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