Is 97216, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 97216 was a Seller's Market.
Key Takeaway
97216 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 97216, OR
How much do homes in 97216, OR cost?
Median Sold Price
$416,750
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 97216 have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in 97216 was $416,750 in March 2024, down 1.9% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245.8K | - | N/A |
| 2 Bedrooms | $380K | $354K | -6.8% |
| 3 Bedrooms | $435K | $425K | -2.3% |
| 4 Bedrooms | $530K | $543.5K | +2.5% |
| 5+ Bedrooms | $570K | $542.5K | -4.8% |
Summary: 97216 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.8%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 4.8%.
Housing Supply in 97216, OR
How many homes are available in 97216, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 65 | -7.1% |
Summary: The 97216 real estate market had 65 homes for sale in March 2024, a 7.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 22 | 21 | -4.5% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 14 | 11 | -21.4% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The 97216 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.5%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 97216, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 97216 in March 2024, down by 18.2% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for 97216, OR
How long does it take to sell a home in 97216, OR?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 60 Days | +28.1% |
Summary: Homes in 97216 had an average of 60 days on market in Mar 2024, up by 28.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 97216 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 97216; 56% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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