Stephen FitzMaurice, Jennifer Tangvald, Listing Office: eXp Realty, LLC
Southwest Housing Market Report December 2024•Multnomah County, Oregon
Housing Prices in Southwest, OR
How much do homes in Southwest, OR cost?
Housing Market Conditions
Is Southwest, OR a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Southwest is a Seller's Market
Difference Since December 2023
At the same time last year, Southwest was a Neutral Market.
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Southwest have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Southwest was $526,500 in December 2024, up 2.4% from last year, and the median price per square foot was $266.
Median Sold Price By Bedrooms
Beds | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
11 Bedroom | - | - | N/A |
22 Bedrooms | $415K | $528K | +27.2% |
33 Bedrooms | $485K | $481.2K | -0.8% |
44 Bedrooms | $599K | $584.5K | -2.4% |
55+ Bedrooms | $545K | $600K | +10.1% |
Summary: Southwest housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +27.2%. The home price for 3 bedroom homes decreased by -0.8%. The home price for 4 bedroom homes decreased by -2.4%. The home price for 5 bedroom homes increased by +10.1%.
Housing supply in Southwest, OR
How many homes are available in Southwest, OR?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
21Last MonthDec 2024 | ||
262 months agoNov 2024 | -19.2 % Change MoMNov – Dec |
Summary: The Southwest real estate market had 21 homes for sale in Dec 2024, a 19.2 % decrease compared to Nov 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
6Last MonthDec 2024 | ||
92 months agoNov 2024 | -33.3 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
Beds | Nov 2024 | Dec 2024 | Change MoM |
---|---|---|---|
11 Bedroom | 0 | 0 | 0.0% |
22 Bedrooms | 0 | 0 | 0.0% |
33 Bedrooms | 18 | 13 | -27.8% |
44 Bedrooms | 7 | 6 | -14.3% |
55+ Bedrooms | 1 | 2 | +100.0% |
Summary: Southwest housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -27.8%. The inventory for 4 bedroom homes decreased by -14.3%. The inventory for 5 bedroom homes increased by +100.0%.
Asking Price vs. Sold Price
How much do homes in Southwest, OR cost?
Over Asking Price3 Homes
At Asking Price1 Home
Under Asking Price2 Homes
If you're buying a home in Southwest, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Southwest in December 2024, down by 33.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and and 50% were sold over asking.
Days on Market for Southwest, OR
How long does it take to sell a home in Southwest, OR?
Breakdown of Home Sale Times
Under 30 Days3 Homes
30 – 90 Days0 Home
Over 90 Days3 Homes
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 6 homes were sold in Southwest; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
69 DaysThis YearDec 2024 | ||
68 Days1 year agoDec 2023 | +1.0 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Southwest had an average listing age of 69 days in Dec 2024, up by 1.0% compared to the previous year.
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Newest Listings in Southwest, OR
What homes are available in Southwest, OR?
Nearby markets
Nearby markets aren't available for Southwest, OR
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MLS Disclaimers and Copyright
Based on information from Regional Multiple Listing Service, for the period 01/01/2023 - 01/01/2025
The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/19/2025, 2:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.