The August real estate market sucked in Salem Oregon.
That is an in-depth analysis for you, brought to you by yours truly, data geek extraordinaire. It took me hours to come up with that analysis, by the way. Hours.
So what does a sucky real estate market look like in Salem Oregon?
So what does all this mean? Well to quote Paul Slaybaugh, a Scottsdale Arizona real estate agent, “You have a better chance of being eaten by Bigfoot while on a double date with the Kardashians than selling your home this month.” Yeah…that comment pretty much sums up August as far as I’m concerned.
So for those of you that need the data…
- Average home price YOY was down 5.9%
- Median home price YOY was down 3.8%
- Home sales were down 20.4%
Now before you start going all Chicken Little on me, put the past two months of horrendous real estate data into perspective. Year to date…so compare Jan-Aug of 09 to Jan-Aug of 2010 and we are at…
- Average home price YOY is down 7.2%
- Median home price YOY is down 8.5%
- Home sales are up 1.4%
So not killer stats by any means but home sales are holding their own. Everything just got shoved forward which really skewed the last 5 months of data. The fall market has picked up as usual, so I’m expecting better numbers for the fall, not great by any means but we are in a recession so no one expects great numbers.
P.S. Data on this post was crunched from information on the WVMLS.