Is Forest Grove, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Forest Grove has remained a Seller's Market.
Housing Prices in Forest Grove, OR
How much do homes in Forest Grove, OR cost?
Median Sold Price
$541,933
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Forest Grove was $541,933 in May 2024, up 3.7% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $255K | $155K | -39.2% |
2 Bedrooms | $390K | $381K | -2.3% |
3 Bedrooms | $488K | $480K | -1.6% |
4 Bedrooms | $587.9K | $607.4K | +3.3% |
5+ Bedrooms | $682K | $663.2K | -2.7% |
Summary: Forest Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.2%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 2.7%.
Median Sold Price Compared To Nearby Cities
Cornelius | $475K | $500K | +5.3% |
Forest Grove | $522.6K | $541.9K | +3.7% |
Forest Grove-Cornelius | $510K | $523.4K | +2.6% |
Housing Supply in Forest Grove, OR
How many homes are available in Forest Grove, OR?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
104 | 102 | -1.9% |
Summary: The Forest Grove real estate market had 102 homes for sale in May 2024, a 1.9% decrease 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 | 9 | 13 | +44.4% |
3 Bedrooms | 49 | 37 | -24.5% |
4 Bedrooms | 24 | 31 | +29.2% |
5+ Bedrooms | 22 | 20 | -9.1% |
Summary: The Forest Grove 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 44.4%, 3 bedroom homes decreased by 24.5%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 28 | -6.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Forest Grove in May 2024, down by 6.7% month-over-month. Of the 28 sold homes, 32% were sold under asking, 11% were sold at asking, and 57% were sold over asking.
Days on Market for Forest Grove, OR
How long does it take to sell a home in Forest Grove, OR?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 50 Days | +82.7% |
Summary: Homes in Forest Grove had an average of 50 days on market in May 2024, up by 82.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Forest Grove; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.