The real estate market has seen some lull this month across most categories. The median sale price is up to $ 403,246.62 in Albany and up to $ 494963.46 in Corvallis. Average home prices fell to $ 380,000 in Albany and rose very marginally in Corvallis to $ 464,750. In Albany, the average number of days on the market dropped to 51 days, and in Corvallis, to 66 days.
In Lebanon, the average home price was $ 338,467.69 over the past 90 days, with the average selling price rising slightly to $ 339,000. Homes still spend an average of 53 days on the market in Lebanon.
The number of listings on the market has grown again to 45 listings active in the MLS in Albany, representing just under half of the inventory for the month. Corvallis has 52 active listings, with stocks just over a crescent. Lebanon currently has 23 active listings, with stocks still at just over half a year.
“In general, if we compare the figures for the end of July, then in general, things are smooth. Overall, it looks like the market has sighed a little. This could be largely due to the fact that “ back to school ” distracts many people from house hunting, or perhaps COVID issues are still in the spotlight, but I think it is more likely that frustration grows. part of buyers.
“I recently put up a house for sale in Albany for $ 290,000. I expected 20+ impressions over the weekend and lots of offers. Instead, I had four sessions and no suggestions. Discussing this with several agents in my office, one of the theories was that buyers expect everything to go for crazy amounts over and above their request. [and] that even though this house was in the most affordable price range, they were still confident that its price would be overpriced, so they didn’t even bother.
“Despite the fact that, judging by the estimates of reserves, the sales market remains stable, we expect a slight lull in activity, we observe a larger decline in prices, and I would expect slightly longer days in the market. Appreciating a home is the key to successful home marketing, and sellers need to understand that the market can change and adjust their expectations accordingly. ”
Check out the next month to see where the market will go.