Market Update: Aired for March 31, 2007
The big picture for the mid-Valley: 511 current active residential listings.
The total value of the active inventory is just under 145 MILLION dollars, with an average price of $283,000.
Corvallis
o 110 active listings - average price of $366,600
o 68 homes are priced at or above $275,000
o 40 homes between $175 and 275,000
o 2 homes priced less than $175,000.
o Since 1 January 2007 95 residential sales have closed - average price of $298,000
o Average dollar per square foot $160
o Average pace -109 days.
o Current Months of Inventory: 3.02 months of inventory, suggesting a seller's market is still in effect.
Albany
o 290 active listings - average price of $267,000
o 98 homes at or above $275,000
o 144 homes between $175 and 275,000
o 48 homes priced below $175,000
o Since January 1 2007 179 residential sales have closed - average sales price of 205,300 dollars
o Average dollar per square foot $127
o Average pace - 137 days.
o Current Months of Inventory: 6.4 months of inventory, right at the tipping point of a buyer's market.
Lebanon
o 110 active listings - average price is $236,500.
o 29 homes greater than $275,000
o 40 homes between $175 and 275,000
o 41 homes less than $175,000
o Since January 1, 2007 - 57 closed sales and an average sale price of almost $152,000
o Average $116 per square foot.
o Average pace - 101 days.
o Current Months of Inventory - 3.3 months of inventory, suggesting a seller's market
Statistics for February 2007 (Update Aired 3/3/2007)
Lebanon
23 SOLD
15 < $175,000
7 - 175 and 275,000
1 > $275,000
6 Pending or Contingent
Average sale price $174,900
Average Days on the Market 110
25 new ACTIVE listings (141 total active listings) - average list price of $189,000.
Corvallis
33 SOLD
2 < $175,000
10 - $175 - 275,000
21 > $275,000
11 Pending or Contingent
Average sale price $330,700
Average days on the Market - 121
30 new ACTIVE listings (121 total active listings) - average list price of $308,000
Albany
48 SOLD
20 < $175,000
22 - $175 - 275,000
6 > $275,000
24 Pending or Contingent
Average sale price $197,000
Average days on the market - 150
86 new ACTIVE listings (296 total active listings) - average price $235,000
Join us for the Real Estate Minute, at about 8:50am, Monday - Friday on 1580 KGAL during the morning update featuring Local News, Weather and Sports with Radio Ray and Weldon Greig.
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