Gearhart, OR 97138
Mon Jul 10 2023
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This week the median list price for Gearhart, OR 97138 is $787,500 with the market action index hovering around 40. This is an increase over last month's market action index of 36. Inventory has increased to 18.
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
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Median List Price
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Price Per Square Foot
The market plateau is seen across the price and value. The price per square foot and
median list price have both been reasonably stagnant. Watch the Market Action Index
for persistent changes as a leading indicator before the market moves from these
levels.
Inventory
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
Median Days on Market (DOM)
The properties have been on the market for an average of 83 days. Half of the listings have come newly on the market in the past 45 or so days. Watch the 90-day DOM trend for signals of a changing market.
