That’s the current inventory level for the Keizer Oregon real estate market. Like the spike in the Salem market, Keizer saw a big jump as sellers put their homes on the market for the tax credit. Inventory is up since last month, but what I would expect to happen is that fewer than normal listings will come on the market for the summer months as people entered the market early. As such, I would expect this number to continue to come down as the year progresses.
Where are things? If we compare this year to date, to last year, then the median is up a smidge (that’s offical statisical language by the way) 2.5%. I don’t think this increase will last just because I do think prices will continue to correct. Sellers were aware that some buyers were going to get $8,000 and I think that prices were propped up a bit. Last month’s increase in price is pulling the overall averages up…for now.
Comparing April to April though…the average home price was down 10.8% and home sales, of course, were up by 80%. Honestly, they couldn’t get much worse than last year in Keizer. It would have been pretty hard to not beat those dismal numbers from 2009.
Where is the market going from here? The same as all of the other Salem area markets…heading towards bottom. I do think Keizer will mostly likely bottom out this year. We’re close.