Home Values

97128 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$200,000

  • 9.0% 1-year change
  • 4.1% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in 97128 is $200,000. 97128 home values have gone up 9.0% over the past year and Zillow predicts they will rise 4.1% within the next year. The median list price per square foot in 97128 is $138, which is higher than the McMinnville average of $138. The median price of homes currently listed in 97128 is $247,500 while the median price of homes that sold is $221,000. The median rent price in 97128 is $1,195, which is the same as the McMinnville median of $1,195.

Foreclosures will be a factor impacting home values in the next several years. In 97128 11.2 homes are foreclosed (per 10,000). This is the same as the McMinnville value of 11.2 and also greater than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 97128 is 8.4%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 97128 homeowners underwater on their mortgage is 17.2%, which is the same as McMinnville at 17.2%.

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Relative ZHVI
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97128 Market Overview

Data through Aug 31, 2014
  • $200,000 ZHVI
  • 4.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $247,500 Median listing price
  • $221,000 Median sale price
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97128 Market Health

Data through Aug 31, 2014
  • 4.0/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 17.2% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 8.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

11.2 homes 97128
11.2 homes McMinnville
4.3 homes United States
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Nearby Zip Codes

Name Median ZHVI
97119 $261,200
97115 $229,200
97304 $222,900
Name Median ZHVI
97111 $193,600
97338 $186,400
97127 $180,800
Name Median ZHVI
97114 $172,800
97378 $155,000
97396 $118,900

Listings & Sales

Data through Aug 31, 2014
  • $138 Median list price / sq ft
  • $133 Median sale price / sq ft
  • 32.9% Listings with price cut
14.8%
Sold below listing
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97128 Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,217 97128
    $1,217 McMinnville
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,195 Rent list price
  • $0.90 Rent list price / sq ft
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