Is Melrose, 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, Melrose has remained a Buyer's Market.
Key Takeaway
Melrose is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Melrose, OR
How much do homes in Melrose, OR cost?
Median Sold Price
$562,000
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Melrose have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Melrose was $562,000 in March 2024, down 3.1% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $354.9K | $485K | +36.7% |
| 2 Bedrooms | $410K | $445K | +8.5% |
| 3 Bedrooms | $569.9K | $620K | +8.8% |
| 4 Bedrooms | $600K | $562K | -6.3% |
| 5+ Bedrooms | $665K | $795K | +19.5% |
Summary: Melrose housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.7%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 19.5%.
Median Sold Price Compared To Nearby Cities
| Melrose | $579.9K | $562K | -3.1% |
| Tenmile | $351.5K | $340K | -3.3% |
Housing Supply in Melrose, OR
How many homes are available in Melrose, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Summary: The Melrose real estate market had 20 homes for sale in March 2024, a 9.1% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Melrose 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 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Melrose, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Melrose in March 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Melrose, OR
How long does it take to sell a home in Melrose, OR?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 68 Days | 312 Days | +358.8% |
Summary: Homes in Melrose had an average of 312 days on market in Mar 2024, up by 358.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Melrose are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 1 homes were sold in Melrose; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
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