01-13-2014 Damascus, Oregon Housing Update

Residential properties and homes with acreage in Damascus, Oregon currently have a median asking price of $375,000.00. There are currently 53 listings available for purchase that have been on the market an average of 132 days. Demand from well-qualified buyers is exceeding new listings which may well point to home prices rising as we move into the busy season of spring/summer for home-buyer activity. Asking price per square foot is dropping while average market time is increasing which may dampen the good news of shrinking inventory. Average lot size for Damascus, Oregon is 1-2.5 acres although newer developments tend to skew this number down due to the smaller lot sizes typical of new developments.