The first quarter has ended for the real estate 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 in real estate…
Average Sales price:
The average sales price so far this year is $208,763, down 3.7 % from last year’s $216,747. Prices have corrected slightly in Keizer. They will probably continue to have some mild correction in the upcoming months.
Keizer has a monthly absorption rate of 21.3. This places the current Keizer inventory at 10 months.
Home Sales Closed:
In the first quarter this year, 64 homes closed on the market. That is down 20 % from the same time frame last year when 80 homes closed in the first quarter. What this means for you as a seller is that you have to be the best house with the best price.
New Home Construction:
There was no significant real estate activity in the first quarter for new home construction for 2007 or 2008.
Keizer does not have enough condo transactions to conduct accurate analysis.
Luxury Market ($500,000+):
There were no sales in the luxury market in Keizer in the first quarter of 2008, but this is consistent with 2007 as well.
For the Salem Oregon Market Report, click here.
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.