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Market Update for Estacada, Oregon August 26th 2013
Inventory has been lightening lately in Estacada and Eagle Creek and the Market Action Index has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.
We continue to see prices in this area bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
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