That is how much the Keizer Oregon median home price dropped compared to May of 2008.
Remember I talked about that Keizer hadn’t been correcting for a while, but then was taking a nose dive instead? Salem Oregon real estate has been edging down 3% here, 3% there. Keizer Oregon stayed flat for a long time, and finally just plunged.
Anyone who has worked with a buyer in Keizer has seen this with the home prices. There were some huge drops in home prices up there, and good deals were selling fast. Before you think there is a ton to choose from in Keizer, think again. The current inventory is at a mere 8.7 months right now. Prices dropped: people responded.
Keizer Oregon real estate has held up much better than Salem during this recession. This data makes it clear that this trend is continuing. The positive signs: decreased inventory that is nearing the 6 month neutral market number, decreased home prices, and an uptick in sales volume. Now, Keizer sellers…this doesn’t mean you can get all cocky and try and command whatever you want, BUT it does mean that Keizer is inching closer to that coveted neutral market.