Polk county city market snippet: May 2009
The report is going to be a year to date summary of the numbers. It won’t be compared to previous months as there are just not enough real estate sales. So…based on data from the WVMLS, these local Salem Oregon metro area cities home report:
Monmouth:
Homes sold year to date: 21
Current Inventory: 12.4 months
Average home sold price year to date: $185,290
Median home sold price year to date: $183,000
Average days on the market: 127
Monmouth inventories have crept up since last year. Still with it’s affordability and proximity to Salem, I would expect the market to hold fairly steady here.
Independence:
Homes sold year to date: 24
Current Inventory: 5.8 months
Average home sold price year to date: $$152,781
Median home sold price year to date: $162,000
Average days on the market: 176
If you are a seller of a home in Independence, you have to wait a long time to sell, but the inventory is nice and low. It’s actually in a neutral market right now.
Dallas:
Homes sold year to date: 57
Current Inventory: 12.5 months
Average home sold price year to date: $190,992
Median home sold price year to date: $175,500
Average days on the market: 141
The inventory in Dallas has come down from earlier this year when it was hovering around 24 months. 28% of active listings in Dallas are homes built since 2006. There is still an excess inventory of newer homes, but they are slowing getting absorbed into the market.
Other reports:
Salem Oregon Real Estate Market Report
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