Current market conditions for Salem Oregon
By Melina Tomson, Principal Broker/Owner, M.S.
(Tomson Burnham, llc Licensed in the State of Oregon)
You will always hear agents talking about the market in simple terms: it boils down to supply and demand. So lets look at Salem Oregon's current market conditions based on supply and demand for the first trimester of the year (January -April). Demand :There have been 526 home sales in the first trimester There were 738 homes sold in Salem, OR in 2007 for the same time frame. This is a decline in demand of 28.7%. Supply :There are 1466 homes listed during the first trimester.In 2007, there were 1537 homes listed in the same time frame.This is a 4.6% decrease in supply.At current market performance rates, it will take 10.6 months to sell all of the homes that are on the market in Salem,OR now. Escrow :There are 167 homes in escrow at present. Prices :The Average Sold Price appears to b...
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