Is Southwest, 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, Southwest was a Seller's Market.
Key Takeaway
Southwest is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest, OR
How much do homes in Southwest, OR cost?
Median Sold Price
$534,950
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southwest have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Southwest was $534,950 in April 2024, up 13.8% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $345K | $355K | +2.9% |
| 3 Bedrooms | $421.2K | $495K | +17.5% |
| 4 Bedrooms | $522.5K | $679.9K | +30.1% |
| 5+ Bedrooms | $850K | $875K | +2.9% |
Summary: Southwest 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 2.9%, 3 bedroom homes increased by 17.5%, 4 bedroom homes increased by 30.1%, and 5+ bedroom homes increased by 2.9%.
Housing Supply in Southwest, OR
How many homes are available in Southwest, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 21 | -16.0% |
Summary: The Southwest real estate market had 21 homes for sale in April 2024, a 16.0% decrease 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 | 0 | -100.0% |
| 3 Bedrooms | 11 | 8 | -27.3% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Southwest 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 decreased by 100%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 1 | -85.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Southwest in April 2024, down by 85.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Southwest, OR
How long does it take to sell a home in Southwest, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 204 Days | +233.6% |
Summary: Homes in Southwest had an average of 204 days on market in Apr 2024, up by 233.6% 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 Southwest are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in Southwest; 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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