Keizer, OR

The Keizer Oregon real estate market has been one of the most stable markets in the Salem metro area for most of the year. While it has had it’s woes, really that market seems to have corrected for the most part.

Keizer Oregon real estate inventory

Inventory, which is an important statistic in the world of real estate, is a gauge of the supply and demand in an individual market. The more in line these are, the healthier that real estate market. You can see that the huge spike in inventory at the start of the year has steadily dropped and has hovered in the neutral market range for the past 3 months. I can’t honestly call a stable market or bottom until after the tax credit ends. I think that we need to see what the market can do on it’s own before calling a bottom, but it does appear to be stabilizing for now.

Read about Keizer's home sales volume and median home prices in October.

The foreclosure boom has done more than weeded out the agent pool. It is also creating a real blank spot in the histories of a large number of homes. With out the disclosures of the previous owners there are fewer and fewer explanations for issues that might have been easily remedied

I was doing a home inspectionon one of these bank owned homes in Keizer, Oregon the other day and came upon a little oddity that I just couldn't help but speculate over. As the drawers in the cabinet were pulled the drawer slides (not just any slides by the way, these were high quality full extension slides) would bang into the doors after about ½ inch worth of travel. Every single drawer was installed with this same issue. This little "oops" rendered the pull out shelves utterly useless.

The section of "custom cabinetry," work had me envisioning a the home owner, (most likely a contractor or builder as well) behind on his bills and sweating away as he installed upgrades here and there in hopes to quickly attract a buyer before things went south.

Of course it was too late, and at that point and the market around him was crumbling as he tirelessly tried to bail water from his sinking ship.

His loss, my clients gain. My client knew his way around a tool belt and looked forward to the finishing touches he could put on this home that had some very nice features. And at the price he was paying it will be a very nice home for his family very soon.

Okay, St. Paddy's day has passed, but I needed a catchy title to get you to look at my cool pictures.

Salem Oregon is surrounded by many small towns that have annual community festivals. Last month, it was the Tulip festival in the Woodburn area, and this month is the Iris Festival in Keizer. The entire month of May is dedicated to the Iris.

Schreiner's Gardens has the Iris gardens, as well as many other flowers. I was up there last week just tooling around with my camera and thought I would share what you can see. You can purchase most of the different types of Iris at the store, but a few are new hybrids that are too new for bulbs.

Brightly colored benches adorn the gardens, making a picnic an easy choice while looking at the many flowers. There is also one bench that is just right, in case you get beary tired from walking around.

Perfectly landscaped yards. 

Well maintained homes.

Active community.

When asked to describe McNary Estates in Keizer, those would be my choices.  McNary Estates is a golf club community that surrounds the McNary Golf Course. 

McNary Estates has homes as well as condo style townhomes. The Castle Pine townhomes have monthly dues that run around $198 per month that covers lawn care for the yard as well as the common areas. The Fountains at McNary have quarterly dues of $469.  Dues are subject to change, so verify them with McNary HOA.

The McNary Estates dues are an additional $208 per year.

The subdivision surrounds the golf course and you will see many golfers and golf carts cruising around the neighborhood.

Make an on-line slide show at www.OneTrueMedia.com

Homes are well maintained and there are CC&R's for the community.

McNary Estates is located in Keizer Elementary, Whitaker Middle, and McNary High School Districts. As with all school districts boundaries are subject to change so verify school boundaries if this is important to you.

In the first 6 months of 2008, 13 homes have sold at McNary Estates. They ranged in price from $262,900-$549,000 with an average of $369,676. They spend an average of 93 DOM.

There are currently 23 active listings for McNary Estates ranging in price from $295,000-$519,000 with an average of $373,469 and 74 DOM.

The first quarter has ended for the real estate market. Here is where our local markets currently stand. Market data information is from the local WVMLS.

Here is what is occurring in the city of Keizer in real estate...

Average Sales price:

The average sales price so far this year is $208,763, down 3.7 % from last year's $216,747. Prices have corrected slightly in Keizer. They will probably continue to have some mild correction in the upcoming months.

Inventory:

Keizer has a monthly absorption rate of 21.3. This places the current Keizer inventory at 10 months.

Home Sales Closed:

In the first quarter this year, 64 homes closed on the market. That is down 20 % from the same time frame last year when 80 homes closed in the first quarter. What this means for you as a seller is that you have to be the best house with the best price.

New Home Construction:

There was no significant real estate activity in the first quarter for new home construction for 2007 or 2008.

Condominiums

Keizer does not have enough condo transactions to conduct accurate analysis.

Luxury Market ($500,000+):

There were no sales in the luxury market in Keizer in the first quarter of 2008, but this is consistent with 2007 as well.

For the Salem Oregon Market Report, click here.

If you need more specific market information, please feel free to call or email me with your specific area, and I will provide you with a more detailed report.

(c) Copyright, 2008. Melina Tomson, All Rights Reserved. DO NOT COPY this without express written permission from the author.