Is Independence, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Independence has remained a Seller's Market.
Key Takeaway
Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independence, OR
How much do homes in Independence, OR cost?
Median Sold Price
$422,500
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Independence have sold for 3.8% more than they did a year ago.
Summary: The median home sold price in Independence was $422,500 in April 2024, up 3.8% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $305K | $349.5K | +14.6% |
| 3 Bedrooms | $406.2K | $420K | +3.4% |
| 4 Bedrooms | $420K | $437.4K | +4.2% |
| 5+ Bedrooms | - | $534.3K | N/A |
Summary: Independence housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Monmouth | $438.8K | $641.7K | +46.2% |
| Monmouth-Independence | $425K | $475.3K | +11.9% |
| Independence | $407K | $422.5K | +3.8% |
Housing Supply in Independence, OR
How many homes are available in Independence, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 19 | +18.8% |
Summary: The Independence real estate market had 19 homes for sale in April 2024, a 18.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Independence housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 7 | +600.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Independence in April 2024, up by 600.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Independence, OR
How long does it take to sell a home in Independence, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 66 Days | 48 Days | -27.3% |
Summary: Homes in Independence had an average of 48 days on market in Apr 2024, down by 27.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Independence are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Independence; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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