Is Happy Valley, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Happy Valley was a Seller's Market.
Key Takeaway
Happy Valley is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Happy Valley, OR
How much do homes in Happy Valley, OR cost?
Median Sold Price
$651,791
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Happy Valley have sold for 5.8% less than they did a year ago.
Summary: The median home sold price in Happy Valley was $651,791 in May 2024, down 5.8% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $252.2K | $279K | +10.6% |
| 2 Bedrooms | $457.4K | $355.9K | -22.2% |
| 3 Bedrooms | $556.9K | $564.5K | +1.4% |
| 4 Bedrooms | $735K | $720K | -2.0% |
| 5+ Bedrooms | $875K | $865K | -1.1% |
Summary: Happy Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 1.1%.
Median Sold Price Compared To Nearby Cities
| Damascus | $650K | $670K | +3.1% |
| Clackamas | $580K | $590K | +1.7% |
| Northwest Clackamas | $620.6K | $625.1K | +0.7% |
| Portland East | $503K | $493K | -2.0% |
| Happy Valley | $691.9K | $651.7K | -5.8% |
Housing Supply in Happy Valley, OR
How many homes are available in Happy Valley, OR?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 223 | 233 | +4.5% |
Summary: The Happy Valley real estate market had 233 homes for sale in May 2024, a 4.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 84 | 83 | -1.2% |
| 4 Bedrooms | 93 | 94 | +1.1% |
| 5+ Bedrooms | 35 | 43 | +22.9% |
Summary: The Happy Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 42.9%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 22.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 37 | -27.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Happy Valley, expect to pay close to the asking price. 40.5% of homes here sold near the asking price last month.
Summary: A total of 37 homes were sold or pending in Happy Valley in May 2024, down by 27.5% month-over-month. Of the 37 sold homes, 24% were sold under asking, 41% were sold at asking, and 35% were sold over asking.
Days on Market for Happy Valley, OR
How long does it take to sell a home in Happy Valley, OR?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 62 Days | +49.1% |
Summary: Homes in Happy Valley had an average of 62 days on market in May 2024, up by 49.1% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Happy Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in Happy Valley; 70% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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