October 2024 real estate market in Woodburn Oregon

the October 2024 real estate market in Woodburn, including home prices, inventory changes, and days on market.Woodburn’s October 2024 Real Estate: Navigating the Trends

October 2024 has brought some intriguing changes to Woodburn’s real estate market. Whether you’re a seasoned seller or a first-time buyer, understanding these shifts can give you an edge. Let’s unpack the latest trends.

Median Sales Price Holds Steady
The median sales price for homes in Woodburn is $410,000, showing a modest 0.9% increase compared to last month. Compared to last year? We’re up 8.1%! There has been a lot of new construction in Woodburn in the past few years and the increase in the median sales price is due to the larger number of newer homes in the mix.

Inventory and New Listings
Active inventory in October stood at 36 homes—a 10% drop from last month. This is expected this time of year as people start to pull homes off the market in anticipation of the holidays.  This is an 18.2% drop year over year which is still indicative of a serious lack of inventory on the market.

Days on Market
Homes in Woodburn are spending less time on the market—just 54 days on average, down a notable 22.5% from October 2023. Translation? If your home is priced right, expect it to move quickly.

Months of Inventory
With 3.6 months of supply, the market is leaning towards balance but still favors sellers slightly. This is one of the highest inventories in the area.  The gap between buyers and sellers is narrowing, offering opportunities for both sides.

Woodburn’s market continues to evolve. Whether you’re buying, selling, or just keeping an eye on trends, staying informed is crucial in this dynamic environment.

This data came from WVMLS and Altos.

 

You can read the other October 2024 market reports for

Salem October Report    Keizer October Report    Dallas October Report    Albany October Report