Is Damascus, 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, Damascus was a Seller's Market.
Key Takeaway
Damascus is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Damascus, OR
How much do homes in Damascus, OR cost?
Median Sold Price
$667,516
$279/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Damascus have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Damascus was $667,516 in March 2024, up 1.1% from last year, and the median price per square foot was $279.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $466K | $545K | +17.0% |
| 3 Bedrooms | $610K | $552.5K | -9.4% |
| 4 Bedrooms | $675K | $775K | +14.8% |
| 5+ Bedrooms | $757.5K | $660.2K | -12.8% |
Summary: Damascus 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 increased by 17%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 12.8%.
Median Sold Price Compared To Nearby Cities
| Boring | $725K | $770K | +6.2% |
| Clackamas | $580.3K | $599.9K | +3.4% |
| Damascus | $660K | $667.5K | +1.1% |
| Gresham | $469.8K | $475K | +1.1% |
| Happy Valley | $722.2K | $649.9K | -10.0% |
Housing Supply in Damascus, OR
How many homes are available in Damascus, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 61 | 68 | +11.5% |
Summary: The Damascus real estate market had 68 homes for sale in March 2024, a 11.5% increase 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 18 | 21 | +16.7% |
| 4 Bedrooms | 30 | 31 | +3.3% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Damascus 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 remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 11 | +450.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Damascus, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Damascus in March 2024, up by 450.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 53 Days | -23.9% |
Summary: Homes in Damascus had an average of 53 days on market in Mar 2024, down by 23.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 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 March 2024, 11 homes were sold in Damascus; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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