Mid Willamette Valley Market Overview June 2008

In the month of June 2008, there were 1647 new listings that came on the market and and a total of 8059 listings available. In the month of June 2007 there were 2022 new listings and a total of 6325 on the market. This equates to a 27.4% increase in listings available this year over last year during the same time period.

In June 2008, there were 551 closed sales, With that number of closed sales we have approximately 14.6 months of remaining inventory.

Current stats for Days on Market:
Salem/Keizer 120
Benton County 134
Linn County 153
Marion County 138
Polk County 132

Closed Sales in Units for the last six years

Through the end of June 2003: 4168
Through the end of June 2004: 4550
Through the end of June 2005: 5331
Through the end of June 2006: 5369
Through the end of June 2007: 4710
Through the end of June 2008: 3035

The percent of sales price to list price was 93.9% in Salem/Keizer, 95% in Linn and Benton County, 93.4% in Marion County and 94.1% in Polk County.

Average Sales Price comparing last year to this year:
Area June O7 June 08 %of Change
Salem/Keizer $239,372 $227,500 -5%
Benton County $306,557 $302,560 -1.4%
Linn County $194,920 $193,282 -1%
Marion County $249,100 $242,990 -2.5%
Polk County $232,396 $225,755 -3%

Source: Willamette Valley Mulitiple Listing Service