Is McMinnville, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, McMinnville has remained a Seller's Market.
Key Takeaway
McMinnville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in McMinnville, OR
How much do homes in McMinnville, OR cost?
Median Sold Price
$475,000
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in McMinnville have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in McMinnville was $475,000 in April 2024, up 2.6% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $389.9K | $444K | +13.9% |
| 2 Bedrooms | $382.1K | $370K | -3.2% |
| 3 Bedrooms | $450K | $451.5K | 0.3% |
| 4 Bedrooms | $563.5K | $550.9K | -2.2% |
| 5+ Bedrooms | $600.5K | $546.7K | -9.0% |
Summary: McMinnville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 9%.
Median Sold Price Compared To Nearby Cities
| Dayton-Amity | $453.5K | $469.9K | +3.6% |
| McMinnville | $462.9K | $475K | +2.6% |
Housing Supply in McMinnville, OR
How many homes are available in McMinnville, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 128 | 132 | +3.1% |
Summary: The McMinnville real estate market had 132 homes for sale in April 2024, a 3.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 71 | 67 | -5.6% |
| 4 Bedrooms | 40 | 42 | +5.0% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The McMinnville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 37 | +15.6% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McMinnville, 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 McMinnville in April 2024, up by 15.6% month-over-month. Of the 37 sold homes, 32% were sold under asking, 41% were sold at asking, and 27% were sold over asking.
Days on Market for McMinnville, OR
How long does it take to sell a home in McMinnville, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 38 Days | +15.3% |
Summary: Homes in McMinnville had an average of 38 days on market in Apr 2024, up by 15.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McMinnville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 37 homes were sold in McMinnville; 65% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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