Is McMinnville, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, McMinnville has remained a Seller's Market.
Key Takeaway
McMinnville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in McMinnville, OR
How much do homes in McMinnville, OR cost?
Median Sold Price
$475,950
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in McMinnville have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in McMinnville was $475,950 in March 2024, up 3.5% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $389.9K | $444K | +13.9% |
| 2 Bedrooms | $381K | $378.5K | -0.7% |
| 3 Bedrooms | $448K | $453K | +1.1% |
| 4 Bedrooms | $566.9K | $549.9K | -3.0% |
| 5+ Bedrooms | $638.5K | $545K | -14.6% |
Summary: McMinnville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 14.6%.
Median Sold Price Compared To Nearby Cities
| Dayton-Amity | $449K | $470K | +4.7% |
| McMinnville | $459.9K | $475.9K | +3.5% |
Housing Supply in McMinnville, OR
How many homes are available in McMinnville, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 162 | 173 | +6.8% |
Summary: The McMinnville real estate market had 173 homes for sale in March 2024, a 6.8% 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 | 9 | 0.0% |
| 3 Bedrooms | 86 | 88 | +2.3% |
| 4 Bedrooms | 51 | 60 | +17.6% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The McMinnville 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 2.3%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 30 | +100.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McMinnville, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in McMinnville in March 2024, up by 100.0% month-over-month. Of the 30 sold homes, 43% were sold under asking, 37% were sold at asking, and 20% were sold over asking.
Days on Market for McMinnville, OR
How long does it take to sell a home in McMinnville, OR?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 33 Days | -37.5% |
Summary: Homes in McMinnville had an average of 33 days on market in Mar 2024, down by 37.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McMinnville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 30 homes were sold in McMinnville; 63% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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