Salem Oregon Real Estate, David Brown, Broker, Prudential Real Estate Professionals
Salem Oregon Real Estate Market Update and News Through May 2008

 

"The Housing Crisis is Over" - Wall Street Journal - May 6 2008

Salem Oregon Real Estate - # 1 in Top Ten Markets
> recent articles analyze Salem's strong real estate market
update: March 25, 2008:
"Two of the three top real estate markets, which were on the Hottest 10 list at the beginning of the year, have been cut due to drastically changing market conditions. Real estate markets in many areas of the country are undergoing sweeping changes as a result of the credit crisis and other factors.
The top spot now goes to Salem, Oregon, which has experienced abundant growth as an exception to the overall ailing Oregon housing landscape. " - Mike Colpits,
American Chronicle
HousingPredictor.com - read full article >

www,HousingPredictor.com - Salem 2008 forecast 6.5%
full story >
Local newspaper, Statesman Journal, picks up story > View
"Some Cities are Spared the Slide in Housing" (Salem incl.)
New York Times Feb. 15th 2008 - read story
New! Salem Oregon in Top Ten of Vacation Home Rentals !
NuWire Investor March 12 2008

What's All the Fuss About Salem Oregon Real Estate ? >

Market Overview MLS STATS Through March 2008

In the month of March 2008, there were 1609 new listings that came on the market and a total of 7111 listings available.  In the month of March 2007 there were 1664 new listings that came on the market and a total of 4832 on the market.  That is a 32% increase in listings available this year over last year at the same time.

In March 2008, there were 541 closed sales.
With that number of closed sales we have approximately 13 months of inventory on the market.

Days on the market currently are:
Salem/Keizer:      125
Benton County:   140
Linn County:        169
Marion County:   140
Polk County        136
Days on the market have increased quite a bit over last year.

Closed Sales in Units for the last six years:
Through the end of March 2003:  1841
Through the end of March 2004:  1846
Through the end of March 2005:   2384
Through the end of March 2006:   2454
Through the end of March 2007:  2036
Through the end of March 2008:  1342

Average Sales Price by area comparing last year to the same time this year.  In Salem/Keizer all areas, except 20 decreased.  The overall percent of sale price to list price is 94%.
                                                                  
Area                              March 07   March 08   %change
Salem/Keizer                 $239,372    $215,422       -10%
Benton County              $306,557    $303,278        -1%
Linn County                  $194,920    $195,457        +1%      
Marion County             $249,100    $247,338        -1%
Polk County                  $232,396    $213,326        -8%
Source:  Willamette Valley Multiple Listing Service

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David L. Brown, Associate Broker

1220 20th St SE Salem, Oregon 97302 (503) 371-3013
Equal Housing Opportunity