Is Forest Grove, 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, Forest Grove was a Seller's Market.
Key Takeaway
Forest Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Forest Grove, OR
How much do homes in Forest Grove, OR cost?
Median Sold Price
$550,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Forest Grove have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Forest Grove was $550,000 in March 2024, up 4.8% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $155K | -39.2% |
| 2 Bedrooms | $385K | $361.2K | -6.2% |
| 3 Bedrooms | $487.2K | $480K | -1.5% |
| 4 Bedrooms | $588.9K | $604.9K | +2.7% |
| 5+ Bedrooms | $689.9K | $664.9K | -3.6% |
Summary: Forest Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.2%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Forest Grove | $525K | $550K | +4.8% |
| Cornelius | $492.1K | $515.3K | +4.7% |
| Forest Grove-Cornelius | $516.5K | $525.1K | +1.7% |
Housing Supply in Forest Grove, OR
How many homes are available in Forest Grove, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 131 | 143 | +9.2% |
Summary: The Forest Grove real estate market had 143 homes for sale in March 2024, a 9.2% 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 | 9 | 6 | -33.3% |
| 3 Bedrooms | 69 | 78 | +13.0% |
| 4 Bedrooms | 30 | 36 | +20.0% |
| 5+ Bedrooms | 23 | 23 | 0.0% |
Summary: The Forest Grove 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 33.3%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Forest Grove, expect to pay close to the asking price. 35% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in Forest Grove in March 2024, up by 17.6% month-over-month. Of the 20 sold homes, 30% were sold under asking, 35% were sold at asking, and 35% were sold over asking.
Days on Market for Forest Grove, OR
How long does it take to sell a home in Forest Grove, OR?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 77 Days | 53 Days | -30.7% |
Summary: Homes in Forest Grove had an average of 53 days on market in Mar 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Forest Grove are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in Forest Grove; 65% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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