McKenzie Valley Oregon Real Estate Update 11-13-2009

McKenzie Valley Oregon Real Estate Update 11-13-2009

We saw a substantial increase in buyer activity in September and October. Average prices have dropped more in the McKenzie Valley this year (22.7%) than the Lane County average (9.3%). Have we hit the bottom? We don’t know, but buyers must think we are getting close or they wouldn’t be buying. It is not just foreclosures that are selling, but recent sales are almost exclusively under $250K, against an average list price for the valley of $433K+. The higher end of the market hasn’t yet returned.

Active Listings Current

Active residential listings = 94

Average days on market = 163

Median days on market = 139

Average list price = $433,651

Median list price = $362,450

Pending Sales Current

Pending residential sales = 6

Average days on market = 130

Median days on market = 125

Average list price = $273,883

Median list price = $284,950

Average $/sqft = $148

Sold Listings 3 months

Sold residential listings = 11

Average days on market = 137

Median days on market = 123

Average list price = $264,487

Median list price = $249,900

Average sold price = $245,527

Median sold price = $226,000

Average $/sqft = $169

32 closed sales year-to-date

Average sales price down 22.7% versus 2008