First American Market Report
Madras, OR 97741
Single-Family Homes
First American Title Company | www.firstam.com
Madras, OR 97741
Tue Apr 23 2024
This week the median list price for Madras, OR 97741 is $419,900 with the market action index hovering around 34. This is an increase over last month's market action index of 33. Inventory has decreased to 40.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $419,900 | |
| Median Price of New Listings | $289,000 | |
| Per Square Foot | $257 | |
| Average Days on Market | 106 | |
| Median Days on Market | 74 | |
| Price Decreased | 33% | |
| Price Increased | 3% | |
| Relisted | 0% | |
| Inventory | 40 | |
| Median Rent | ||
| Market Action | 34 | |
| Slight Seller's Advantage | ||
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $799,450 | 2,007 | 1 - 2.5 acres | 3 | 2.3 | 46 | 0 | 0 | 70 |
| $457,450 | 1,964 | 0.5 - 1 acre | 3 | 2 | 60 | 0 | 0 | 94 |
| $392,450 | 1,629 | 6,500 - 8,000 sqft | 3 | 2 | 1 | 1 | 1 | 70 |
| $314,500 | 1,293 | 8,000 - 10,000 sqft | 3 | 2 | 63 | 3 | 2 | 91 |