Is Neighbors Southwest, 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, Neighbors Southwest has remained a Buyer's Market.
Key Takeaway
Neighbors Southwest is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Neighbors Southwest, OR
How much do homes in Neighbors Southwest, OR cost?
Median Sold Price
$697,900
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Neighbors Southwest have sold for 26.9% more than they did a year ago.
Summary: The median home sold price in Neighbors Southwest was $697,900 in April 2024, up 26.9% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299.9K | $296.5K | -1.1% |
| 2 Bedrooms | $398K | $385K | -3.3% |
| 3 Bedrooms | $505K | $598.5K | +18.5% |
| 4 Bedrooms | $750K | $740.4K | -1.3% |
| 5+ Bedrooms | $875K | $750K | -14.3% |
Summary: Neighbors Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 14.3%.
Housing Supply in Neighbors Southwest, OR
How many homes are available in Neighbors Southwest, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 58 | 65 | +12.1% |
Summary: The Neighbors Southwest real estate market had 65 homes for sale in April 2024, a 12.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 25 | 28 | +12.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Neighbors Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Neighbors Southwest, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Neighbors Southwest in April 2024, down by 38.5% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Neighbors Southwest, OR
How long does it take to sell a home in Neighbors Southwest, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 158 Days | 26 Days | -83.1% |
Summary: Homes in Neighbors Southwest had an average of 26 days on market in Apr 2024, down by 83.1% compared to last year.
Breakdown of Home Sale Times
5 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 Neighbors Southwest are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Neighbors Southwest; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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