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Salem Oregon Real Estate Market Update: Oct 2009

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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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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

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

Nov 14, 2009 02:19 PM
Melina Tomson
Tomson Burnham, llc Licensed in the State of Oregon - Salem, OR
Principal Broker/Owner, M.S.

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.

Nov 14, 2009 02:33 PM
Sean Keene
The Keene Group - Salem, OR
Realtor - Salem/Keizer

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.

Nov 16, 2009 02:42 AM
Karen Cooper
Karen Cooper | Sr Mortgage Loan Originator ! NMLS # 223305 | First Federal Bank of Florida, Ocala, FL - The Villages, FL
Helping Homeowners w/Home Loans in 27 US States

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.

Nov 16, 2009 04:46 AM
Art Marine
Mortgage Solutions Financial - Lake Oswego, OR
Loans that Fit your Life

That is fantastic news!  Thanks

Nov 18, 2009 08:40 AM
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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.

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