Is Monmouth-Independence, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Monmouth-Independence was a Neutral Market.
Key Takeaway
Monmouth-Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monmouth-Independence, OR
How much do homes in Monmouth-Independence, OR cost?
Median Sold Price
$475,375
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Monmouth-Independence have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Monmouth-Independence was $475,375 in April 2024, up 11.9% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $438.8K | $526.9K | +20.1% |
| 3 Bedrooms | $415K | $472K | +13.7% |
| 4 Bedrooms | $462.5K | $440K | -4.9% |
| 5+ Bedrooms | $344K | $592.1K | +72.1% |
Summary: Monmouth-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 20.1%, 3 bedroom homes increased by 13.7%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes increased by 72.1%.
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% |
| Salem | $440K | $434.9K | -1.1% |
Housing Supply in Monmouth-Independence, OR
How many homes are available in Monmouth-Independence, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 37 | +23.3% |
Summary: The Monmouth-Independence real estate market had 37 homes for sale in April 2024, a 23.3% 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 | 3 | +200.0% |
| 3 Bedrooms | 21 | 22 | +4.8% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Monmouth-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 200%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 9 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monmouth-Independence, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Monmouth-Independence in April 2024, up by 200.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 44% were sold at asking, and 33% were sold over asking.
Days on Market for Monmouth-Independence, OR
How long does it take to sell a home in Monmouth-Independence, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 37 Days | +1.9% |
Summary: Homes in Monmouth-Independence had an average of 37 days on market in Apr 2024, up by 1.9% compared to last year.
Breakdown of Home Sale Times
6 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 Monmouth-Independence are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Monmouth-Independence; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.