Salem Oregon Acreage Real Estate Update November 2011

Salem Oregon Acreage Real Estate Update November 2011

Summer is over and we are smack in the middle of fall selling season. Some home owners to take their property off the market this time of year, but that is a huge mistake. In the Salem and Keizer Oregon area, 14 properties closed in the month of October alone. If a home owner needs to sell their place, why would you want to miss out on those buyers?

The properties that sold in October took an average of just 152 days. While 5 months might sound like a long time, the average market time was hovering around 8 months for most of the year.

The average list to sale price continued to hold steady. Sellers in July and October saw an average of 94% of their asking price, compared to 96% and 99% in August and September respectively.

The currnet median sales price in October for acreage homes in Salem and Keizer Oregon was $274,450. This just happens to be pretty close to the FHA loan limit in Marion County.

The chart below shows the Median Sales price by month for property just outside of Salem and Keizer Oregon.