Is Gearhart, 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, Gearhart has remained a Seller's Market.
Key Takeaway
Gearhart is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gearhart, OR
How much do homes in Gearhart, OR cost?
Median Sold Price
$639,500
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gearhart have sold for 10.1% less than they did a year ago.
Summary: The median home sold price in Gearhart was $639,500 in May 2024, down 10.1% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $360K | +10.8% |
| 2 Bedrooms | $553.5K | $607K | +9.7% |
| 3 Bedrooms | $675K | $590K | -12.6% |
| 4 Bedrooms | $927.5K | $885K | -4.6% |
| 5+ Bedrooms | - | $895K | N/A |
Summary: Gearhart housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 9.7%, 3 bedroom homes decreased by 12.6%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Seaside | $545K | $559K | +2.6% |
| Gearhart | $711K | $639.5K | -10.1% |
Housing Supply in Gearhart, OR
How many homes are available in Gearhart, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The Gearhart real estate market had 20 homes for sale in May 2024, a 4.8% 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 | 7 | 5 | -28.6% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Gearhart 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 decreased by 28.6%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gearhart, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Gearhart in May 2024, up by 300.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.
Days on Market for Gearhart, OR
How long does it take to sell a home in Gearhart, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 79 Days | +112.6% |
Summary: Homes in Gearhart had an average of 79 days on market in May 2024, up by 112.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gearhart are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Gearhart; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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