Home prices up? What?
I have to say I was a bit surprised when I ran the real estate numbers this month for Keizer because the average and median home price ticked up. Yep. I said it. Up. I know my regular readers would never believe I would say anything positive about real estate in our area. I just proved you wrong 🙂
The average home price for Keizer Oregon for March was up 7.9% and the median was up 8%. Now before any of you Keizerites get too excited about that news, it is just one month in the trend here. I was fully expecting to see another mild decline like we had seen in the previous month, but some more expensive homes were able to be sold in Keizer this past month pulling that median up. While I doubt this trend will continue through the summer it is a much better result than the large double digit drops that were happening in previous months. That number coupled with a dropping inventory (at 8.7 months as I write this post), are good signs for the Keizer real estate market.
Demand is up. This isn’t a big surprise though. That tax credit is nice. Demand jumped 50% in Keizer for March. This really helped to cut down the excessive inventory that was on the market. Keizer continues to be one of the stronger markets in the Salem Oregon metro area. While it has been impacted by the current economic woes, it continues to work towards stabilization and that coveted normal market.