New Listing! Perfect for medical, dental office or other business location in Florence, Oregon, close to the beach (Pacific Ocean and Siuslaw River views!), Old Town Bay Street, and just an hour or so from Eugene. Also within minutes to the regional hospital.
Salem, Oregon Real Estate – State of the Market – June 2010
Jul 21st, 2010 by TracyJones
Summer’s here and in general, real estate transactions seem to favor the warmer months here in Oregon.
Even absent the $8,000 Homebuyer Tax Credit, home sales continue to chug along. However, based on statistics, far and away, it’s still a buyer’s market. Which means, it’s a great time to find an excellent deal for either a personal residence, or an investment property.
To give you an idea what’s happened in the first 6 months of this year, I’ll share some statistics with you.
Since my earlier December, 2009 update, here’s what has happened in real estate, for the local, Salem and surrounding areas. I draw my statistics from those published by the Willamette Valley Multiple Listing Service.
So far in 2010, the average priced home sold for $205,252. The median priced home (median prices eliminate the highest and lowest prices, giving perhaps a more accurate picture of average) sold for $183,000.
Comparing those to 2009, it was $215,432 and $192,000, respectively. For buyers, that’s great news. The typical home buyer is paying far less for a home, on average $10,180 less and if using the median statistic, $7,100 less.
If you’re considering selling your home, the average days on market (DOM), are all dependent upon the area your property is located. It ranges, for 2010, from 119 DOM to 203 DOM. Basically, that means you might expect to have your property listed for up to 7 months, on average, and again, depending on your property’s location.
Another interesting statistic is reviewing what a property’s final price is when compared to the list price. In the Willamette Valley, Sellers are getting anywhere from 89.1% of their list price, up to 93.4% of their list price.
Keep in mind, the numbers I am discussing here are all averages. No transaction is ever the same, so it’s a virtual guarantee, yours will probably be different.
Quick fact to close out this post: The average NEW home sold in the Willamette Valley is a 3-bedroom, 2-bath home, averaging 1,801 square feet, and includes a 2-car garage. The average price for this new home is $235,931 ($131 per square foot), which includes a 7,000 square foot lot.
In my next article, I’ll share some useful home selling tips with you. I’d like to thank my readers, friends and colleagues for your referrals! It’s been a pleasure working with you.
To learn more about local listings, please visit my website @ www.TracyJonesBroker.com, or, feel free to call my office at 503-364-0955 or my cell phone, 503-569-7821.
Tracy Jones, Broker, is a state of Oregon licensed real estate broker with ERA Northwest Professional Realty. She is a member of the National Association of Realtors®, Willamette Valley Multiple Listing Service, Regional Multiple Listing Service and the Salem Association of Realtors®.
Sales Statistics, WVMLS
Mar 7th, 2010 by TracyJones
Here are the most recent real estate sales and transactions statistics as published by the Willamette Valley Multiple Listing Service.
To learn more feel free to call or email me!
West Salem Hills View Lot
Jan 21st, 2010 by TracyJones
Brand-new listing…Vacant Land For Sale in the West Salem Hills. Check out this incredible property; one of the biggest residential lots in the area. Build your classic West Salem Hills home, right here!
Heceta Beach Road, Florence, Oregon – SOLD
Jan 3rd, 2010 by TracyJones
…SOLD…
Brand-new listing…Vacant Land For Sale. Check out this incredible property on a huge Oregon Coast lot in Florence!
State of the Market December 2010
Dec 30th, 2009 by JerryAJones
Salem, Oregon Real Estate Watch
What’s happened in 2009 so far in Salem? What’s the market doing? Should I list my home now? How long will it take to sell my home? Are prices rising in the Willamette Valley, or falling?
These are all great questions I get from clients all the time. Many times, questions involve consulting my crystal ball, which is no better and no worse than anyone else’s. I can however, share what’s happened through November 2009, so perhaps where we’ve been can give you some idea of what may well happen in 2010.
Starting with a broad view, Active Listings (homes on the market for sale) are down 10.84%. So far in 2009, 5,273 homes have sold compared to the top of the real estate boom in 2005, where a total of 11,576 homes were sold – a substantial drop.
In 2006, roughly $2.4 billion in real estate was sold here in the Willamette Valley vs. so far, in 2009 (again, through November), just over $1.1 billion. With some luck, we may hit the halfway point of 2006.
So far, year-to-date, the average home sales price is $209,800. That number peaked in 2007 at $250,205. A retracement of $40,405 in two years – again, very substantial.
On new construction, of which there are 674 active units (residential) in the valley, the cost per square foot has returned to pre-2006 levels of $130/sq ft. However, the average new home size has shrunk, reflecting the squeeze many builders are feeling, from 2,013 sq ft in 2007, down to 1,847 sq ft in 2009 (again, year-to-date).
Many local “housing” forecasters are predicting home prices to continue to drop, but only slightly, with some leveling at the end of 2010.
Good time to buy? Depends on your motivation, what your goals are and so on.
Good time to sell? You’ll have competition for sure, but if your home is priced to sell, uniquely positioned in the market (think “staging”) and heavily advertised both on the internet and in other, more traditional methods (that still work!) in an aggressive fashion, you stand a far better chance of hitting your goals.
I am currently accepting a limited number of clients for 2010. For more information on retaining me for your real estate transactions, visit my website at www.TracyJonesBroker.com.
* Statistics provided by WVMLS.com. If your home is currently listed with broker, this is not intended to be a solicitation.
Adorable Beach Cottage – 1680 35th Street, Florence, Oregon
Nov 22nd, 2009 by TracyJones
I’m very excited to bring you this brand-new listing on the Oregon Coast, in Florence. This turn-key home is ready for move-in. It’s been recently updated with new paint, counter-tops, dishwasher, and flooring. Perfect for getting cozy during a winter storm, or enjoying the sun-filled days in the backyard with friends and family.
To learn more about this Tracy Jones Premier Listing, just give me a call or send an email.
Is the market heating up?
Nov 1st, 2009 by TracyJones
Just driving around the Salem area, especially in South Salem, where I live, I am noticing more and more active building taking place.
Several subdivisions that have been dormant from 12 to 18 months are now sprouting houses.
If you’re looking to buy new, entry-level homes are at some of their lowest prices in the last several years, having retreated from the low $200s to the upper $170s to $190s.
If a mature property is what you’re after, entry-level homes in South Salem are priced from the $160s on up.
I’ll be adding new features to my website, including a listing search tool and also a page specific to property listings held by ERA Northwest Professional Realty.
If you have a question or comment – post it! Or, you can always contact me.
New Content Coming Soon!
Nov 1st, 2009 by TracyJones
New Content Coming Soon
I’m just getting started with my site, so check back as the updates are already starting and new content and tools will soon be available.
My website will focus on Salem, Oregon (and close-in areas) real estate trends, buying tips, selling tips and more!
If you have any questions, I’m here to help. You can reach me at 503-569-7821, or by email. tracyjonesbroker @ gmail . com
-Tracy Jones
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