The talk around the real estate water cooler is pretty basic…”so what year are you at?” Some cities are at 2001-2002 pricing, thankfully Keizer Oregon is not. Real estate in Keizer took a header off the diving board in 2009 landing in a nice belly flop in 2010.
The chart is pretty clear that the median and average home prices were almost identical to 2009 numbers. The average home price dropped just 2.2% and the median shifted downward a mere 2.7%. My guess was a 5% drop like Salem and I was wrong. I guessed too high BUT I did qualify my guess last year with the fact that my crystal ball broke and I hadn’t had any coffee yet before making that prediction.
Home sales in Keizer Oregon
So what year is real estate at in Keizer? Pretty close to 2005 levels. So if you bought in 2005, you’re about break even right now, statistically speaking. The number of homes sold tells the story though. Even though Keizer might be at 2005 pricing levels, sales aren’t even close. The number of homes sold continues to drop, and went down 4.9% from 2009.
You can see that sales are about half of what they should be. I think home sales will probably be about the same in 2011 or a bit higher.
Foreclosures in Keizer Oregon
With unemployment still high, and foreclosures still increasing in Keizer, the market will still have downward pressure on it for 2011. Foreclosure notice filings were up 9.7% in Keizer in 2010 over 2009.
You don’t need my keen sense of analysis to tell you that isn’t good, right?
My predictions for next year…more of the same. 5% decline in home prices, and flat-lined home sales. This prediction is given with the following disclaimers:
- I reserve the right to change my mind about my prediction at any time because I am a woman. So sue me.
- I make no guarantees about what you will see in these graphs if you went mushroom hunting in the Oregon forests and didn’t run your mushrooms by the Forest Service. Your bad.
- I make no claims about how much your home will depreciate in value if you fail to vote for your favorite restaurant on the Eat Salem Blog. Vote here.
If you want to get on the list of foreclosures for Keizer Oregon, or if you want to buy something that doesn’t involve a 12 page bank addendum, shoot me an email and I’m glad to help.
The data used in this blog was generated from information provided by the WVMLS and Fidelity National Title Co.