Stayton has had a lot of fluctuations over the course of the 2008 year. Inventories would shrink and grow, shrink and grow. Like all of its Marion County counterparts, Stayton ended the year down. The average sales price for a home was $218,220 and the median price was $185,000. The average sales price dropped 3.2% and the median price dropped 11.7%. The median price drop indicates that buyers purchasing out in Stayton were just not purchasing very expensive homes.
The days on the market increased from 94 in 2007 to 105 in 2005. That average should continue to rise as market conditions worsen in 2009. As with many of the smaller cities sales were off by 42% in Stayton. The amount of homes listed on the market was about the same. This increasing gap is putting more inventory on the market and will continue to push prices down as those that need to sell are forced to cut price to get the sale.
Stayton had a nice inventory until 2005 when all of the new construction homes there hit the market and started to flood the market.
As with all Marion county cities, I do expect Stayton home prices to drop in 2009, probably in the 5-10% range, possibly more depending on job losses in Oregon.
For other Marion county city market reports read