I often get asked "How's the market?" in response I have developed the following report to give a clear overview of the Corvallis real estate market and any changes over time. Read on to get some insights into the reports for this quarter!
We are 50% through 2014...where did the year go?!
We are starting to see some clear trend lines in the Corvallis marketplace this year –for at least the first 6-months. The first thing we noticed is that total home sales were down in the first three months of this year. Most of us in the business attribute this to a lack of quality homes for sale. That being said, the total unit numbers were down.
Another interesting trend is that for the first 6 months our average price is a little less than 2013 and our days on market are higher. This is a little concerning. We will have a clear view of the trend come October 1st – when we can see how our highest closing months –July and August –really end up.
At this time, there are no major red flags in the numbers –but we do have some minor concerns with some of the average sales price statistics.
In addition, here is a link to the very useful FHFA Pricing Index Report. If you would like to find out information on many cities, most counties, regions and stats in the country this FHFA report is an incredible resource. –Here are some points of interest:
In the last 12 months:
- Nevada has seen home values rise 20.96%. Oregon has seen a rise of 9.71%
- Merced California has seen a 1-year appreciation of 30.63%
- Bend, Oregon, has seen a 1-year appreciation of 18.82%
- Albany, Oregon, has seen a 1-year appreciation of 5.85%
- Corvallis, Oregon, has seen a 1-year appreciation of 6.58% (This is lower than expected as we have seen some price reduction in the last 6 months)
If you would like more information about our marketplace, real estate in general, or would like an analysis of your home– do not hesitate to contact me.
Make it a great day!
Lee Eckroth
Town & Country Realty, Broker
Lee@Talk2Lee.com
541-760-4742
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