August saw a bit of a jump up in home prices from last August. I certainly wouldn’t say that home prices are appreciating in Keizer but last year was the end of the tax credit and July and August were dismal months in real estate. Home prices really couldn’t get worse than after the tax credit ended. With a current average of $175,297 and a median of $156,000, Keizer is fairly close to Salem median home prices.
The 90 day absorption rate is 29.67 which means the current inventory of homes in Keizer is 7.3 months. A bit better than Salem’s 9 months and just like Salem, Keizer is in a bit of a sweet spot for regular sellers as 50% of foreclosures have been pulled off the market temporarily. In August 16% of homes sold in Keizer were foreclosures or short sales. 17% of active listings are designated as foreclosures or short sales right now. Home sales were the best in three years in August, just like Salem’s numbers. It wasn’t hard to beat last year so that doesn’t really count. Overall good market numbers for Keizer. If we didn’t have those stopped foreclosures looming ahead of us, I’d say Keizer is looking pretty darn sweet for real estate, but these numbers will probably get uglier in about 6-12 months, assuming the MERS foreclosure issues get resolved.