It’s that time of year. Mid-January gives agents a chance to get all of their sold data into our local MLS so we can run some data and see where the year ended. The 4th quarter in real estate in most of the Salem metro cities was brisk, well in comparison to recent years anyway. There were many happy agents as the year ended better than it started.
Home sales were up 22% over 2011. We could tell. It was much more common to have multiple offers on homes, and verifying the availability of a property before showing it was once again a smart move.
In the past few years, agents could wait a few days before setting up showings, but with the inventory actually selling, this is no longer the case.
So what did this spike in home sales do for our overall sales prices?
They were still down, technically, but 0.6% is not significant and in fact is great. At the midpoint in the year, Keizer was down 5.94%. Home prices increased in the third and fourth quarters to bring that median drop up to a mere 0.6% drop for the year overall. Keizer is chugging along so well right now that they are heading towards a sellers market. With a mere 4.79 months of inventory on the market, that is a market that favors sellers, just barely.
My best guess for Keizer real estate for 2013 is home price increases in the 2-4% range. Yep. Really. Home prices should increase in Keizer this year.
Note: data was crunched from data provided by the WVMLS for 2012 single family properties with one acre or less.