Is Monmouth-Independence, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Monmouth-Independence was a Seller's Market.
Key Takeaway
Monmouth-Independence is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Monmouth-Independence, OR
How much do homes in Monmouth-Independence, OR cost?
Median Sold Price
$499,000
$295/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Monmouth-Independence have sold for 17.4% more than they did a year ago.
Summary: The median home sold price in Monmouth-Independence was $499,000 in March 2024, up 17.4% from last year, and the median price per square foot was $295.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $438.8K | $669.8K | +52.6% |
| 3 Bedrooms | $423.5K | $475.3K | +12.2% |
| 4 Bedrooms | $450K | $540K | +20.0% |
| 5+ Bedrooms | $344K | $592.1K | +72.1% |
Summary: Monmouth-Independence housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 52.6%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 72.1%.
Median Sold Price Compared To Nearby Cities
| North Benton | $520.7K | $955K | +83.4% |
| Monmouth | $438.8K | $612.3K | +39.5% |
| Monmouth-Independence | $425K | $499K | +17.4% |
| Independence | $405.2K | $455K | +12.3% |
| Salem | $451.2K | $434.9K | -3.6% |
Housing Supply in Monmouth-Independence, OR
How many homes are available in Monmouth-Independence, OR?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 46 | +12.2% |
Summary: The Monmouth-Independence real estate market had 46 homes for sale in March 2024, a 12.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 26 | 26 | 0.0% |
| 4 Bedrooms | 11 | 16 | +45.5% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Monmouth-Independence housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monmouth-Independence, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Monmouth-Independence in March 2024, the same as the previous month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 98 Days | 11 Days | -88.2% |
Summary: Homes in Monmouth-Independence had an average of 11 days on market in Mar 2024, down by 88.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Monmouth-Independence are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Monmouth-Independence; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.