Independence:
30 day absorption rate: 2
Inventory: 24 months
Average Price: $176,750
Median Price: $176,750
Average DOM: 113
Independence had been creeping towards normal. Like many small towns with few sales, the inventory numbers tend to jump all over the map.
Monmouth:
30 day absorption rate: 3
Inventory: 13 months
Average Price: $173,333
Median Price: $170,000
Average DOM: 170
Monmouth had been in a neutral market for a good chunk of 2008. In fall inventories started to creep in Monmouth. They are currently sitting at 13 months.
Dallas:
30 day absorption rate: 9
Inventory: 13.3 months
Average Price: $172,655
Median Price: $155,000
Average DOM: 168
With the new construction homes that were placed on the market in fall 2008, Dallas inventories have been holding around 13 months since then. This market has a lot of new construction homes on the market that need to get sold to get these inventories down.
Salem Oregon Market Condition Report
(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)