01-14-2014 Sandy Oregon Real Estate Update

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For the week of January 13th, 2014 the Sandy, Oregon real estate market has a median asking price of $239,950 for currently active residential listings. While inventory is decreasing the average days homes stay on the market is increasing which could indicate a settling in the market or merely a brief seasonal pause. Sales have been strong amongst top tier properties featuring an average 2.5-5 acres whereas the lower three price tiers have seen much lower demand. This trend follows the fact that many who live in Sandy, Oregon want a country lifestyle that you really can’t get on the postage-stamp lots offered in many new subdivisions. And, although these newer homes boast high end features such as granite counters, gourmet kitchens and expansive master suites the lot sizes are even smaller than is offered with homes built in the 1970′s. Also a factor, many of these newer Sandy, Oregon subdivisions were built right on the cusp of the real estate market crash. This is a factor because these newer small-lot homes don’t fit in with many of the target buyers for the area.

Realtors and other industry insiders in Sandy, Oregon question what the disparity amongst property quartiles will do to the overall housing market. For example, a couple who own a lower tier property but wish to sell in order to purchase a horse property with acreage will be hard pressed to get enough from the sale to fund their purchase down payment. These and other economic factors may cause the overall local housing market to take a much-needed pause from it’s meteoric 2013 rise.

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