After taking a couple of days off from number crunching, I’m back in the saddle to finish off the last of the Salem Metro area cities for you all.
Aumsville has been one of the more stable markets this year in Marion county.
in the early part of this decade, home prices in Aumsville were essentially flat for 3 years until they started to rise in 2005. With low inventories, demand outstripped supply due to affordability and home prices increased rapidly.
The 2008 year ended with an average home price of $203,571 down 5.6% from last year. The median home price was down 1.8% to $220,900.
The days on the market were actually shorter in 2008 than 2007, by 26 days, but there was a 30% decrease in sales.
Supply and demand have traditionally stayed in good concert in Aumsville. This kept home prices affordable. In 2007 the average home price jumped 15% over 2006 and you can see the difference in the amount of homes sold. It dropped.
Supply and demand are coming inline in Aumsville, but the averages will have to come down some more. Aumsville is traditionally a very affordable small town. Of the Marion county cities, its real estate market is one of the more stable ones, but prices will have to correct and decline in order to return Aumsville to more affordable levels and even out supply and demand.
For other Marion County cities read: