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Real Estate Analysis and Commentary

Real Estate Market
May 2nd, 2024 3:34 PM

What is Oregon Housing Market Forecast for 2024 and 2025?

For Sale Inventory:

According to Zillow, the average home value in Oregon stands at $487,244, reflecting a 1.5% increase over the past year. Homes in Oregon typically go to pending within approximately 35 days.

As of February 29, 2024, Oregon boasts 11,181 properties listed for sale. This figure provides a snapshot of the available housing stock in the state, influencing factors such as supply and demand dynamics and pricing trends.

New Listings:

Median Sale to List Ratio:

During the same period, 2,567 new listings entered the Oregon housing market. New listings are indicative of market activity and can influence buyer
sentiment
and competitive dynamics.

The median sale to list ratio, standing at 0.989 as of January 31, 2024, reflects the relationship between the final sale price of homes and their listed prices. This metric offers insights into pricing strategies and negotiation dynamics within the Oregon housing market.

Median Sale Price and Median List Price:

Percent of Sales Over and Under List Price:

As of January 31, 2024, the median sale price in Oregon stands at $461,958, while
the
median list price as of February 29, 2024, is $497,667. Understanding the disparity between these figures provides insights into pricing trends and market competitiveness.

Examining the percentage of sales over and under list price offers valuable insights into market demand and pricing dynamics. As of January 31, 2024, 22.3% of sales in Oregon were over list price, while 57.1% were under list price. These figures shed light on competitive pressures and buyer-seller negotiations.



Posted by Bob Peterson on May 2nd, 2024 3:34 PMPost a Comment

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