Salem, Oregon Metro Home Price Update

Willamette Valley Homes & Real Estate

A new report on greater Salem area home values is now available. Covering much of the mid-Willamette Valley, it shows a dip in prices and an increase in properties for sale.

The above RMLS graph documents the recent downturn in Salem area home prices. This correlates with a roughly 25% increase in housing inventory in the second chart below.

Inventory Jump Explains Latest Price Drop
The easiest explanation for the recent price drop is a jump in home inventory. As a larger number of sellers compete for buyers, downward pressure is placed on home prices. The good news is that even with a recent decline in home values, our market is still up for the year. The average sales price for the first nine months of the year is $188,300, up 10.6% from the same time in 2012.

The new report covers Marion and Polk Counties, with specific information on…

View original post 54 more words

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s