01-13-2014 Eagle Creek, Oregon Market Update

Homes on acreage in Eagle Creek, Oregon have been trending down in asking price. Current median advertised price is $315,000 with median lot sizes ranging from 2.5-5 acres. Asking price based on square footage of home is also trending downward while the days on market is trending upward. The silver lining is that inventory of available properties for sale is also dropping and as buyers purchase available homes on acreage it will apply upward pricing pressure which is certainly good news for home owners.

Currently, it appears as if buyers purchasing homes may outweigh the negative news; indicating a possibility of a stable, mildly positive housing market. Quartile data shows top tier properties are remaining on the market over 400 days at a median list price of $529,000 whereas entry level properties feature a median list price of $195,000 and have roughly half the average days on market. The easiest properties to sell are in the upper-second pricing tier with a median list price of $432,000 featuring 2300 sq ft homes on 5-10 acre lots. These upper-second tier properties fit well with the equestrian/rural lifestyle popular in the area but are also just within reach of the budgets of many dual income families.

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