01-14-2014 Molalla, Oregon Housing Update

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The median list price for residential homes for sale in Molalla, Oregon is $213,300- with an average market time of 169 days. The properties in this area are sharply divided between suburban neighborhoods ranging in price from 124,750 up to $255,000 up to 20+ acre ranches replete with high end features like farmland, riding arenas, stables, workshops and more. Differing from other areas in Clackamas County, these top-tier acreage properties have seen the most market action from well-qualified buyers. This doesn’t really surprise though when one considers the fact that Molalla is known for it’s strong equestrian and farming background. These top-tier homes on acreage are still a relative value at a median list price of $499,000 when this is compared to other areas such as Beavercreek where top-tier horse properties are listed at $644,000.

Inventory of available homes is dropping and prices are holding steady for the moment. However, Realtors and other industry insiders see this strong buying trend as a sign of possible upward pricing pressure based on strong buyer demand. The market action index may be off base in this area because although top quartile horse properties are selling well the more modestly priced listings on city lots are seeing just the opposite. For the bottom two price quartiles there are about 3 times as many new listings coming on the market as there are being sold which points to a downward pricing trend for the bottom 3 residential property price brackets. Factors for downward pricing pressure include working class wages and the local economy combined with the fact that many in Molalla, Oregon still commute into the Portland Metro Area for work (lowering the practicality of the area for dual income middle class families).

Overall, the upper end of the Molalla real estate market appears healthy but lower priced homes not selling may hamper current owners wanting to sell and buy upmarket.

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