Wheeler, OR 97147
Monday July 10 2023
This week the median list price for Wheeler, OR 97147 is $499,000 with the market action index hovering around 31. This is an increase over last month's market action index of 26. Inventory has increased to 3.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Median List Price
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Price Per Square Foot
Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium.
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 32 days. Half of the listings have come newly on the market in the past 35 or so days. Watch the 90-day DOM trend for signals of a changing market.