Stayton Oregon has typically had a more tumultous real estate market than the other surrounding cities. Since it does not have a diverse economy, it tends to get harder hit during recessions than the Salem Oregon metro areas. Earlier in the year Stayon’s real estate market seemed almost non-existent. Nothing was selling and inventories were all over the place. The second quarter overall numbers are looking better.
The current inventory is 7.29 months, which is very respectable. Homes are starting to move off the market there as there were 7 homes sold last month. Sales volume continues to be low and is still off 36% from early on in the decade, but the numbers are a step in the right direction.
The median home price has dropped 16.8% since the peak in 2007 and I personally think it will adjust downward a bit more. Nothing too crazy if the current inventory numbers continue, but I think in order to get more homes sold prices will just have to correct a wee bit more in this area.