Is Hillsboro, OR a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hillsboro is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Hillsboro has remained a Seller's Market.

Key Takeaway

Hillsboro is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Hillsboro, OR

How much do homes in Hillsboro, OR cost?

Median Sold Price

$537,639

$315/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,085(+4.5%)

Key Takeaway

Homes in Hillsboro have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Hillsboro was $537,639 in May 2024, up 4.5% from last year, and the median price per square foot was $315.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $304K$310.2K
+2.1%
2 $394.7K$400K
+1.3%
3 $505K$524.9K
+4.0%
4 $615.1K$627K
+1.9%
5+ $708K$760K
+7.3%

Summary: Hillsboro housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 7.3%.

Median Sold Price Compared To Nearby Cities

Rockcreek
+5.8%
Hillsboro
+4.5%
Forest Grove-Cornelius
+2.6%
Chehalem Mountains
+2.4%
Beaverton-Hillsboro
+1.7%

Housing Supply in Hillsboro, OR

How many homes are available in Hillsboro, OR?

Number of Homes For Sale

Apr 2024May 2024CHANGE
380423+11.3%

Summary: The Hillsboro real estate market had 423 homes for sale in May 2024, a 11.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 42
-50.0%
2 4158
+41.5%
3 197219
+11.2%
4 111117
+5.4%
5+ 2727
0.0%

Summary: The Hillsboro housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 41.5%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
89110+23.6%

Asking Price vs. Sold Price

38 Homes Were Sold
Under Asking

30 Homes Were Sold
At Asking

42 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hillsboro, you could pay more than the asking price. 38.2% of homes here sold above asking price last month.

Summary: A total of 110 homes were sold or pending in Hillsboro in May 2024, up by 23.6% month-over-month. Of the 110 sold homes, 35% were sold under asking, 27% were sold at asking, and 38% were sold over asking.

Days on Market for Hillsboro, OR

How long does it take to sell a home in Hillsboro, OR?

Average Sale Time

May 2023May 2024CHANGE
28 Days46 Days+61.8%

Summary: Homes in Hillsboro had an average of 46 days on market in May 2024, up by 61.8% compared to last year.

Breakdown of Home Sale Times

73 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hillsboro are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 110 homes were sold in Hillsboro; 66% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Hillsboro, OR

Nearby Markets to Hillsboro, OR

What housing markets are near Hillsboro, OR?