Clackamas County Market Update 09/08/13

Eagle Creek, OR 97022

As of Monday, September 9th, Eagle Creek homes offer larger lots, having an average lot size of two and a half to five acre lots. Eagle Creek is currently showing 30 properties on the market, and this number will continue to dwindle. Eagle Creek properties average a list price of about $395,000. This week we are looking at a buyers advantage, and will continue that trend for the coming weeks ahead.

Characteristics Per Quartile
The top/more expensive homes in the area average 20+ acres and are about $600,000, whereas the bottom/least expensive homes average 2 1/2-5 acres and are about $200,000 in price. homes in Eagle Creek tend to be on the market for a long time, but the upper most quartile homes spend almost a year for sale. Five acre lots are popular in three of the four quartiles.

Inventory of Homes Listed for Sale
Eagle Creek inventory is already very low, and is looking to drop more in the weeks to follow. 50% of the listings have come on the market in the last 115 days or so. Property prices and price per square foot are pretty stagnant as of this week and don’t appear to change at all for the weeks to come.

Boring, OR 97009

Having just under 60 properties listed for sale in Boring during the week of September 8th through 14th, this gives buyers a smaller variety of homes to select from. The average list price for homes in Boring is about $397,000. At this time we are looking at a buyers advantage in the market, and that is going to continue to be the trend for a while.

Characteristics Per Quartile
Currently homes in the upper most quartile are spending almost a year on the market, whereas homes in the lowest quartile are only on the market about 100 days. Most of the homes average three bedrooms and two bathrooms. As of this week we are having twice as many new listings than sold listings.

Inventory of Homes Listed for Sale
Boring listings will see 36% of properties with a price decrease. Prices, although, have been relatively stable. Half the properties for sale in Boring have come on the market in the last 120 days or so. Buyers are spending less on their homes, but in return are getting less square footage for their money. Even with lesser properties on the market right now, inventory is predicted to go up soon.

Sandy, OR 97055

This week in Sandy, OR (September 8th-14th), homes and lots for sale are averaging about 155 days on the market. Sandy offers all sorts of properties, including view lots and farm lots. Sandy properties are averaging a list price of about #295,000. Currently we are at a buyers advantage and will be for a while considering the downward trend in the market.

Characteristics Per Quartile
Homes in Sandy in the lower quartile are listed at $173,000 and the higher quartile homes are at about $400,000 giving buyers a wide range of prices for homes in the area. Homes in all four quartiles average three bedrooms and two bathrooms. The top quartile homes are seeing a higher number of days on the market than the other three quartiles.

Inventory of Homes Listed for Sale
The inventory of homes for sale in Sandy sits at 222 homes, which gives buyers quite the selection of homes. With the growth of inventory of homes we are seeing a reduction in pricing with demand in the area lowering, making property prices very reasonable. In the last three months half the listings have come on the market.

Damascus, OR 97089

As of the second week in September, Damascus homes listed for sale have an average list price of about $410,000. Lots for sale are averaging $150 asking price per square foot. Supply and demand levels in Damascus are staying relatively constant, and as of this week the advantage is to the sellers and staying in that position for the foreseeable future.

Characteristics Per Quartile
Inventory of homes in each quartile in 20 homes for sale. The ratio of new listed homes and homes sold is almost even. The least expensive homes are seeing a longer average days on the market than the other more expensive homes on the market. The bottom quartile homes are showing list prices of $280,000 and the top quartile homes are showing prices of about $598,000.

Inventory of Homes Listed for Sale
As of this week there are 80 properties listed for sale, and that number looks to be trending downward. In the past two months half the listings have come on the market. Demand in this area is relatively high, making homes fly off the market quickly. Buyers are getting more for their money, but paying steeper prices.

Estacada, OR 97023

Estacada homes for sale are averaging a list price of about $405,000 in the week of September 8th-14th. You will find the average lot size to be about one to two and a half acres. The average days on the market is about 195 days and that number is looking to drop dramatically. As of today we are seeing a buyers advantage, and that advantage appears to be the trend for quite a while.

Characteristics Per Quartile
Estacada homes in every quartile are seeing everywhere from 150 to 250 days on the market. Each quartile has at least 25 homes, with new homes coming on the market and homes being sold at almost the same rate. Homes for sale are pricing at about $180,000 in the bottom quartile homes to about $550,000 in the top quartile homes.

Inventory of Homes Listed for Sale
Estacada property inventory is just over 100 listings and tightening quickly. Middle market homes are showing an overall higher demand. In the past four months, half the listings have come on the market. With the decrease in inventory, the pretty consistent prices could shift upward.

Molalla, OR 97038

For the week beginning on September 8th, there are just under 105 homes listed for sale. Molalla is a great area to find farmland and horse properties. Homes in the area have an average of about $140 asking price per square foot, and it appears that number is looking to trend upward. This week we are in a buyers advantage with no predicted change for the time being.

Characteristics Per Quartile
Lots and land in Molalla are anywhere from 8,000sqft to 10,000sqft for the bottom quartile to 20+ acres in the top quartile, giving a wide range of lot sizes to choose from. Homes in every quartile average three bedrooms and two bathrooms. The homes that are the least expensive are averaging more days on the market than the other three quartiles.

Inventory of Homes Listed for Sale
The inventory of homes listed for sale has hit a slight decrease in the last few weeks. In the past 85 days or so half the listings have gone on the market. Even though home prices have stayed pretty constant, home values are beginning to increase.

Beavercreek, OR 97004

For the second week of September, lots for sale in the area averaged a list price of $525,000. The median lot size is five to ten acres, making many of these properties ideal for farms and horse properties (please verify land use with Clackamas County.) The asking price per square foot is about $190 and trending upward. As of this week the market is in a buyers advantage.

Characteristics Per Quartile
This week the lower quartile homes are experiencing the least days on the market. Property sizes are starting at five acres and going up to 20+ acres in the top quartile lots. The ratio of new to absorbed homes this week is one to one, so homes are being listed and sold at the same rate.

Inventory of Homes Listed for Sale
In the last month or so, overall inventory has fallen. The homes in Beavercreek have a median of three bedrooms and two bathrooms. Properties, homes, and lots for sale are showing a surprising level of demand, and on occasion you can find short-term investment opportunities.