Well it is still cold here in the Salem Oregon area. Typically it isn’t cold like this without ice and snow. It has been really sunny which is deceptive to we Oregonians this time of year. It’s just plain cold out there.
So, as I sit in my office in the cold, with some nice hot cocoa this time, it’s time to look at the Keizer Oregon real estate numbers. Keizer, of course, looked pretty good last month. This month it looked pretty like it has for the past four Novembers…slow.
November traditionally is not a huge month in real estate in our area. Keizer stayed on track and had a very normal November. Sales were pretty much flat and have been for the past four years. While it looks like there is a mild drop, there were 25 sales this year vs. 27 last year. The sample is just too small to really say the minor drop has any significance.
As for home prices with this small sample…Average home price was down just 2.3% year over year. The median saw a greater shift due to the foreclosures and short sales and the lower end of the market. The median home price dropped 10.5% as a result. The good news about the average staying up…it means that a few more expensive homes were able to sell and get cleared off the real estate market shelf. That is good.
So where does this leave us?
Current inventory is 7.24 months which is a bump up from last months 5 month inventory, but that is to be expected. With the run in real estate to get the tax credit plus the normal lack of sales this time of year, this bump in inventory isn’t too concerning at this point. As with the Salem Oregon real estate market, I would expect to see some stabilization if the home prices stay down, but a bottom or true stabilization can’t be called until the end of the tax credit occurs in April 2010.
As always if you have any questions about the Keizer, Oregon real estate market just hit the ask the broker tab and well…ask.
P.S. These market statistics were crunched from data provided by the WVMLS.