Is Peninsular Addition, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Peninsular Addition was a Buyer's Market.
Key Takeaway
Peninsular Addition is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Peninsular Addition, OR
How much do homes in Peninsular Addition, OR cost?
Median Sold Price
$469,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Peninsular Addition have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Peninsular Addition was $469,000 in May 2024, down 4.3% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425K | $354.9K | -16.5% |
| 3 Bedrooms | $500K | $480K | -4.0% |
| 4 Bedrooms | $610K | $721.5K | +18.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Peninsular Addition housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Peninsular Addition | $490K | $469K | -4.3% |
| North Portland | $496.7K | $472K | -5.0% |
Housing Supply in Peninsular Addition, OR
How many homes are available in Peninsular Addition, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Summary: The Peninsular Addition real estate market had 20 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 10 | +66.7% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Peninsular Addition housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peninsular Addition, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Peninsular Addition in May 2024, the same as the previous month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Peninsular Addition, OR
How long does it take to sell a home in Peninsular Addition, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 2 Days | -93.1% |
Summary: Homes in Peninsular Addition had an average of 2 days on market in May 2024, down by 93.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Peninsular Addition are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Peninsular Addition; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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