Spring 2015 Residential Market Report For Clackamas County, Or
Much like the rest of the State of Oregon and the Nation, Clackamas County has witnessed robust appreciation in the housing sector. In general, inventory is scarce as buyers are eager to make a purchase due to needing a place to live and also out of a growing fear of being priced out of the market. What follows are brief summary reports with some easy facts and figures to help you decide if it’s your time to get your feet wet in the Clackamas County real estate market. Looking to sell? Call us for a personalized property valuation and feel free to read up on this article so you’ll have a better understanding of what’s happening in your area right now. Thanks for reading.
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In the second week of May, 2015 residential homes for sale in and around Sandy, OR have a median asking price of $312,000 with an average of 137 days on the market. Lately, median asking prices have been trending up steeply whereas asking price per square foot is staying about the same; which may show a shift in available residential properties to larger, more expensive homes being listed. Conversely, available inventory is shrinking fast. All of these factors come together to make the current market conditions favor sellers. While nobody has a “crystal ball”, if inventory continues to be tight and demand remains strong it seems likely that prices will continue to rise with the market.
Sandy, OR Residential Housing Per Price Quartile/Tier
- Top Quartile Properties: Median price for Sandy residential properties in the top quartile is $799,000. These homes have sought-after features including average statistics such as lot sizes in the 10-20 acre range, 2752 square feet of home square footage, 3 bed/2baths and a median age of 25 years. There are 15 available Sandy, OR listings in this category with 1 new listing and none sold. Average days on market is slightly above the median at 152 days on market.
- Upper/Second Quartile Homes: These listings have a median price of $389,950 with an average of 159 days on market. These upper/second tier homes sit on lot sizes in the 2.5-5.0 acre range with homes sized around 2,487 square feet. These Sandy, Oregon properties average 4bed/2bath and are around 44 years old. With 2 newly listed and 4 of these homes sold there’s certainly strong buyer action in this segment.
- Lower/Third Quartile Homes: the median for the lower/third Sandy, Oregon real estate quartile is $264,950 with homes in the 2022 square foot range and much more modest lot sizes in the 4,500-6,500 square foot range. These properties average 3bed/2baths and are around 12 years old. Much like the next higher quartile, there have been 4 listings sold with only 2 newly listed properties in the category.
- Bottom/Fourth Quartile listings: These homes have a median offered price of $194,975 with 1,388 square foot homes and lot sizes in the 8,000-10,000 square footage range. These homes average 3bed/2bath and an age of 36. There are two newly listed homes in this category and one sold. Average days on market is 135 days.
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Residential homes for sale in Boring, Oregon are at a median of $450,000 asking and currently average 127 days on market. Prices are more or less steady currently. Asking cost per square foot is trending upward somewhat at $180, although acreage properties may at times skew the comparison of home size versus price. Days on market are strongly trending downward while homes newly put on the market are on a robust increase. Based on the numbers, it’s a seller’s market and if these numbers persist we may well see prices increase further.
Boring, Oregon Homes For Sale: Quartile Info
- Top/First: median asking price is $820,000 for the top quartile of Boring, Or real estate. These homes feature acreage lots in the 5-10 acre range along with an expansive 3280 average square footage, 4bed/3bath. With one newly listed home and none sold this quartile is sitting at an average of 253 days on market.
- Upper/Second: $574,900 median list price and a home in the 2880 square foot range typifies the upper/second quartile in Boring, OR. These homes sit on lots around 1-2.5 acres with 4bed/2baths. With one home newly listed and 2 sold, this category’s healthy 120 days on market is no surprise.
- Lower/Third: $423,900 median asking price for a home averaging 2840 square feet on a lot size around 1-2.5 acres is standard for the lower/third category in Boring, OR. 4bed/3bath and average as built around 41 years ago. This is a hot selling quartile with only 72 days on market and 1 listing sold that’s replaced by 1 newly listed property.
- Bottom/Fourth: $332,450 median price and homes in the 1866 square foot range sitting on 1-2.5 acre lots are what to expect in the bottom quartile for Boring, Oregon. 3bed/2bath and built 59 years ago. With one new listing and 2 sold homes in this category we’re seeing an average days on market of only 73 days (which almost exactly matches the quartile just above).
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Home values in Estacada, Oregon are on the rise. Currently, median list price for the area is $387,950 with properties on acreage lots averaging much higher. Asking price per square foot for homes in Estacada, OR is steeply rising and currently at $160 per square foot while days on market are slightly increasing and inventory is slightly waning. The market signals put the advantage clearly in favor of sellers.
Estacada, Oregon Homes For Sale: Quartile Summary
Strong demand in the lower housing quartiles for Estacada, Oregon real estate are putting upward pricing pressure on the market. Similarly, sales of larger homes on acreage in the area have also seen robust home sales. Only the top quartile had more newly listed properties than it had sold with 3 newly listed versus 2 sold homes for the week. However, with these top homes’ asking prices of $899,900 and 20 acre lots these are still strong sales figures. The top quartile has the longest days on market at 268 whereas the lower third quartile is cooking along at a blistering 70 days on market. The bottom 2 quartiles each had 5 homes sold in their respective categories. Overall, housing is trending up and buyers are eager to secure homes in Estacada, Oregon and Clackamas County.
Molalla, Oregon is following suit with the rest of Clackamas County and the nation as residential real estate listings sell swiftly due to demand being higher than availability. Median list price for Molalla is $284,999 with 63 homes on the market at an average of 94 days. Currently, prices for this area have plateaued and asking price per square foot is rising slightly. Inventory is strongly increasing due to recently improved market conditions and strong sales figures.
Molalla, OR Property Quartile Data Summary
All residential property quartiles for Molalla, OR and the surrounding countryside are showing strong home sales numbers. Top quartile properties in Molalla currently have a median asking price of $585,000 and feature homes in the 2,800 square foot range on lot sizes generally in excess of 20 acres. These in-demand acreage (often equestrian) properties show healthy sales figures and have an average of 129 days on market. The hottest selling quartile homes in Molalla are the lower/third properties with a median asking price of $264,950 with 0 new listed and 3 sold. These lower/third quartile homes are on modest city lots in the 4.500-6,500 range and are selling fast at only 70 average days on market. The bottom/fourth quartile homes in the town of Molalla are also selling briskly with only 88 days on market and listings priced at a median of $180,950.