Salem Oregon Real Estate Market Update: Oct 2009

By
Real Estate Agent with Tomson Burnham, llc Licensed in the State of Oregon

So do you want the good news, the good news, or the good news first...

You pick the good news? Cool.

It's no secret to Salem Oregon real estate agents that October was busy. We all had to figure out how to get out of pajamas and actually write contracts last month.

 

The good news...median home price was down (I know I'm weird that I think that is good news)

The good news...Salem Oregon homes sales were up 31% over last October

The good news...the current home inventory as I write is 6.1 months for Salem Oregon.

 Read more about the current real estate market conditions in Salem Oregon.

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Topic:
ActiveRain Community
Location:
Oregon Marion County Salem
Groups:
Moving to Oregon
Tags:
salem oregon
real estate
inventory
median home price

Comments 5 New Comment

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Ambassador
1,304,548
Jon Zolsky
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Melina,

As far as I understand 6 months inventory is considered "healthy", so you are pretty close to normal (stabilized) market. Of course, a 31% drop in prices does not support the stabilization idea. It  is  tricky

November 14, 2009 10:19 PM
Rainmaker
255,168
Melina Tomson
Principal Broker/Owner, M.S.
Tomson Burnham, llc Licensed in the State of Oregon

Yes Jon 5-6 months is that normal market inventory I think.  So we've got that going on.  We'll have to see how long it holds for AND what happens when the credits end.

November 14, 2009 10:33 PM
Rainer
15,320
Sean Keene
Realtor - Salem/Keizer
Keller Williams

I like the sounds of all those numbers. Things do seem to be picking up, but I think the tax credit helped so we will see when that runs out mid year. Thanks for the info, great as always Melina.

November 16, 2009 10:42 AM
Rainmaker
298,923
Karen Pierce
Karen Pierce | Housing Counselor |Oregon

Hi Melina - Those ARE some good numbers. Nothing wrong with a lower median if the correction needed to take place to coincide with area incomes.

November 16, 2009 12:46 PM
Rainer
30,121
Art Marine
Academy Mortgage

That is fantastic news!  Thanks

November 18, 2009 04:40 PM
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Rainmaker
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Melina Tomson

Principal Broker/Owner, M.S.
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Additional Information

Neighborhood real estate at its best delivered to you by a Principal Broker licensed in the state of Oregon. Get a peek into my inner data geek with my extensive Salem Oregon real estate trending graphs, or stick around to see if my sarcastic wit rears its ugly head. Either way, read, hopefully enjoy and find it helpful, then you know the drill...call/email/tweet me for help with your real estate needs.