I think the regular readers of my blog are so with it in terms of the local home trends here in Salem Oregon, that I can just post these charts with no opinions attached, right? Say yes…I’m in the middle of beating Plants vs. Zombies on my iPad and I don’t want to have to stop to write up any kind of analysis here…
You think I jest, but I’m serious. Have you ever played Plants Vs. Zombies on your iPhone, computer, iPad? These cute little sunflowers happily spew out suns which you can use to grow other plants to kill the zombies that cross the lawn to try and eat your brains. Personally I like the exploding jalapeno pepper. The even smile when the zombies eat them. They really need to take some karate or something and kick some zombie hiney.
What? My attempts to distract you from boring real estate data into talking about cute sunflowers isn’t working? Data you say? As Susan Mangigian, a sweetheart of a real estate agent from West Chester, PA, would say, pffft. So be it…
Home prices in the 3rd quarter are down. This isn’t a big surprise. I told in you January we’d be down again this year. Even John Kirk said we’d be down again this year. The market is just following our crystal ball nicely…thank you crystal ball. The third quarter was down 7% from 2009’s third quarter’s numbers, and Salem Oregon home prices are down 17% from our peak in 2007, for those who are curious.
Home sales were down year-over-year for the third quarter, which isn’t a big surprise. Unless you’ve been hanging out with a volleyball named Wilson for the past few years, you know that we had the real estate hangover to end all real estate parties this past quarter. No Oregon Dungeness crab at that party, by the way…
No big surprises here. Home sales were down 31% year over year from 2009’s third quarter.
For those of you that want to see how things look for trending….
Home prices have been down, and generally speaking home sales have been up. We should end the year with more homes sold this year over 2009, and then we’ll really get to see what the market can do on its own next year. Right now we have a 15.5 month inventory of homes in Salem Oregon so we are getting ready to head into the slow season with a massive amount of homes on the market. Unfortunately for you, the Zombies just ate by brains so I can’t give you any more analysis. You’re on your own for the rest.
P.S. This data was crunched using data from the WVMLS for single family, non-acreage property and originally posted on the Get Real Estate Blog.
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