April has ended and is generally considered to be the start of the “selling season.” While inventories are creeping up, they are still only in a slight buyer’s market.
Here is where our local markets currently stand. Market data information is from the local WVMLS. Here is what is occurring in the city of Keizer Oregon in real estate…
Average Sales price:
The average sales price for the month of April was $246,571. In April 2007 the average sales price was $232,474. This is a 6.1% increase from the same time last year. The average sales price is an increase over the first quarter of 2008 which had a $208,763 average price.
Keizer homes prices appear to be stabilizing at this point, and if this trend continues will have a fairly normal spring and summer market for those that are able to sell their homes.
Keizer has a current absorption rate of 30. This places the current Keizer inventory at 7.8 months. This is slightly up from the 6.5 month inventory of the first quarter.
Home Sales Closed:
In April this year, 30 homes closed on the market. That is down 23 % from the same time frame last year when 39 homes closed in April. Inventories are creeping up. Being competitive is more getting more and more important.
New Home Construction:
Keizer currently has 44 new construction homes active on the market. New home construction is currently averaging $281,742 for active listings. Only one home sold in April. At that rate it will take 44 months to sell all of the new construction in Keizer.
Keizer currently has 5 condos listed as active on the MLS. They are averaging $256,280. 2 sold in the month of April with an average of $345,000.
If you need more specific market information, please feel free to call or email me with your specific area, and I will provide you with a more detailed report.
(c) Copyright, 2008. Melina Tomson, All Rights Reserved. DO NOT COPY this without express written permission from the author.