No big surprises here. Prices dropped. Like Monmouth, Independence dropped 5% for the average home price and 3.6% for the median. Independence had steady appreciation since 2002 due to its proximity to Salem and its affordability. It did peak in 2007 as did most of the Salem Metro area. Days on the market, DOM, for…
If you read any of my earlier market reports on Monmouth, you would know that it was one of the better off Marion county cities. This doesn’t mean that prices didn’t decline here. There was a 5.5% drop in the average home price from 2007. The current average home price is $207,196. The median home…
Who knew 0 was such a great number? I’ve decided that I really like that number right now. Not -5, or -10, but 0. The Keizer real estate market has held fairly steady this year, with normal seasonal ups and downs. Why do I like 0? Because that is what the average and median home…
A Starbucks coffee card for anyone that can tell those two lines apart… Not a big surprise with the numbers on duplexes, the average price is $212,108 which is down 7.3% from 2007. The median price dropped 1.1% from 2007. With sales cut but 50% from 2006, the prices are going to have to continue…
Land tends to go for a premium out here due to our urban growth boundaries. Despite that I was surprised at the data that came out of this run. Average and Median Sales Prices for Bare Land in Salem Oregon The average price for land was $667,733 up 27% from 2007 and the median price…
Well…what can I say? This data is going to stink! Lots…what builders buy to build those gorgeous homes…that they can’t sell… Do you really want to see the state of this sector of our market?? See that nice plunge at the end? That represents a 47% drop in the average sold price and an 17.5%…
I have talked with many potential buyers for acreage property around the Salem area. Most are people wanting to relocate here, up until I email them some properties and the costs associated. In the 2008 year, our local Salem acreage properties dropped slightly, almost on par with non-acreage homes…5.4% for the average sales price from…
With the end of the year comes the frantic number crunching by the real estate industry to see where we ended up in comparison to years past. I will be spending the next couple of weeks going city by city and giving detailed market reports for areas. If you have a question that you want…
View Larger Map Skyway, Heaven, Cloudview, Stratus are all names of streets that make up part of the Cloud 9 neighborhood. …don’t worry cumulonimbus is not one of the streets in this neighborhood. Located in South Salem, Cloud 9 was built mostly in the early 1990’s. As such there has been some time for trees…
Global Insights releases a quarterly report on home valuations by city. According to their latest report, released in December, Salem Oregon is still overvalued for real estate. Only three cities made the grade for extreme overvaluation…Bend, OR being one of those three. According to the report, Salem Oregon is overvalued by 25.2%. That means we…