Get Real Estate Blog|Salem Oregon Homes|Relocation Guide

I know bad title but I got a little distracted there for a couple of days and slacked off on my market reports.  I’ll get all the cities done by the end of the month for those of you waiting for the smaller metro areas right now.

Onward to Aumsville.

Aumsville hadn’t been as hard hit as some of the other metro cities.  With the affordability that the city offers, as well as the fact that it qualified for USDA home loans, home buyers were able to get 100% financing out here.

This was really the first year that we saw a decent drop in the average and median home prices in the city.  The average home price dropped 8.7% to $188,467 and the median shifted downward 7.7% to $193,500.

Home sales were down just a bit over 2009 and the number of homes listed was up just a bit.  The supply and demand imbalance isn’t as great as it was in some years past, but inventory is still off in this area.

At the beginning of 2009, I felt the Aumsville market was heading in the right direction.  The Home Depot distribution plant has just started hiring and so there any effects from that on the Aumsville real estate market aren’t felt yet.

I do think that there will some volatility in the market in 2011, but how much remains to be seen.

I feel off the data geek bandwagon here for a few days as I actually had to work…yes I really do negotiate offers and show houses on occasion.

So let’s talk Aumsville.

Aumsville ended the year at an average home price of $206,542  and a median home price of $209,500.  That average home price was a 1.5% INCREASE (I’m writing it in all caps, because it is the first time I get to write it) over 2008. The median, however, is down 5.2%.  The cause of this is due to the newer JDC subdivision in Aumsville, Highberger Meadows.  Several homes sold there, which are generally more expensive than Aumsville homes typically are.  The median which is the number where 50% are higher and 50% are lower is a bit more accurate for smaller towns since it swings less due to a high priced home selling.

Not that it means bad things for the Aumsville real estate market.

In fact I think good things, relatively speaking, are in store for Aumsville for 2010.  The same number of homes sold in 2009 as 2008.  Nice and flat.  What I really liked was the nice drop in homes listed.  A 30% drop in fact.  This nice drop has brought supply and demand much closer together.  Aumsville supply and demand has traditionally been very close and I think it still needs a bit of tweaking, but not bad.

I am interested to see how real estate does in Aumsville after the completion of the Home Depot distribution center.  With it’s easy access to the Mill Creek Industrial Park,  and the Cascade School District (generally speaking) getting better marks than East Salem schools, it will be interesting to see if the Sanyo Plant and Home Depot center keep Aumsville real estate going in the right direction. I’m kind of thinking it will.

P.S.  Data used in this report was calculated from information provided by the WVMLS.