Of all the local mini-real estate markets in the Salem Oregon area, I’ve long talked about how Keizer was not as hard hit or as bad as some of the others, including Salem. This continues to be true and in fact Keizer saw a small pop in median home price this month over last year’s numbers. Granted…last year stunk, but unlike Salem which has slowly descended to the bottom, Keizer had a big plunge and seems like it might flat line this year. Just to give you an idea…Dec 31, 2009 the median home price ended at $185,000 YTD (year to date). The median home price for Keizer at the end of May 2010 YTD? $185,000.
With 7.2 month of inventory, the excess inventory that doused the market prior to the tax credit is slowly being absorbed as part of the regular real estate season.
I think Keizer is within just 1-2% of bottom. It has been hovering really close to last year’s numbers. Now, that doesn’t mean I think that real estate is going to skyrocket there anytime soon, but I think the averages and medians are going to hang here for a bit while the economy tries to improve. I’m thinking flatline.
Overall though, Keizer is looking pretty good as far as real estate markets go. The market is flat lining and heading towards a neutral real estate market.
Data was crunched by the WVMLS.