Real Estate in Clackamas County For 09/08/2014
Sandy, Oregon Real Estate Market Report
Properties for sale in Sandy, Oregon have been selling at a faster rate than new properties have become available in all property pricing quartiles except for the very top pricing tier. Reflecting home affordability, the most robust home sales have been in the lower/third pricing quartile with a median price of $239,950 which average 1753 square feet, are only 7 years old and are situated on modest (4k-6k sq ft) neighborhood lots. In this popular pricing tier there have been 2 new listing while 6 properties have been sold which shows robust buyer demand. Similarly, the bottom price quartile has also seen very strong sales.
In sharp contrast, acreage properties for sale in Sandy, Oregon with a median price of $549,999 and 5-10 acre lots have been selling much slower. This clearly reflects the fact that these higher priced acreage properties, while in high demand, remain financially out of reach for many would-be buyers. Average days on market for Sandy, Oregon real estate listings is climbing while available inventory of homes for sale is dropping. While these are mildly positive market conditions it should be noted that late summer is often the peak of the real estate buying season. Whether these positive trends are enough to keep prices moving up over the fall and winter remain to be seen.
Boring, Oregon Residential Housing Update
Median asking price for homes for sale in Boring, Oregon is at $419,450 for this week and residential listings currently have an average market time of 200 days. Asking price per square foot has been dropping whereas the median list price has been increasing sharply (which shows that larger homes in higher price brackets are being offered for sale). These high prices for the Boring, Oregon township within Clackamas County reflect the areas desirability. These recent trends may indicate that the market may be beginning to slow down a little however it may take weeks of slackening market action from well-qualified buyers before these trends affect asking prices of available real estate listings.
Top quartile real estate listings i Boring, Oregon have a median asking price of $769,975 and feature ~4,000 square foot homes on acreage lots in the 5-10 acre range (on average). The 8 homes for sale in this top price tier have been on the market for and average of 243 days, which reflects the fact that these homes are priced higher than many would-be buyers can afford. Upper-second price quartile listings in Boring, Oregon are priced at a median of $499,700 and feature an average of ~3,100 square foot home sitting on 1.0-2.5 acre lots. These upper-second quartile properties have been on the market an average of 186 days. Recent selling activity has been restricted to the lower two pricing quartiles at a median list price of $349,000 and $192,500 respectively. These lower two price quartiles feature average lot size of 2.5-5 acres for the lower/third and 1.0-2.5 acres for the bottom/fourth pricing quartile. If the market remains cool look for the possibility of settling prices in the coming weeks or months.
Eagle Creek, Oregon Homes On Acreage: Housing Update
This week in Eagle Creek, Oregon real estate we’re witnessing average days on market increase at the same time as inventory of available homes for sale is also increasing. The question remains as to whether strong market action on the part of buyers will be enough to counteract increased market time and increased inventory. We may be witnessing the tail end of the traditionally strong summer buying season for residential real estate. As such, listed properties in the area may start to feel negative pricing pressure in coming months. Check back to our site to get the latest on Eagle Creek and other areas within rural Clackamas County, Oregon.
Top pricing quartile properties currently sit at a median asking price of $599,000 for an average 3,366 square foot home sitting on a 5-10 acre parcel. Upper/second pricing quartile properties are at a slightly lower median list price price of $465,000 and also feature acreage in the 5-10 range. the lower/third quartile properties have a median asking price of $314,900 and average square footage at a more modest ~1898 and are situated on acreage lots generally in the 1.0-2.5 acre range. The bottom/fourth pricing tier of available rmls listings sit at a median asking price of $185,000 and modest square footage of 1320 square feet and are also situated on 1.0-2.5 acreage lots.
Beavercreek, Oregon Homes For Sale: Housing Update
Median asking price for the Beavercreek area (97004 zip code) within Clackamas County, Oregon has increased to $495,000. In something of a mixed signal, average days on market is increasing while property inventory is dropping amongst residential properties in this rural area. In this traditionally busy time for buying and selling of residential real estate it’s not too surprising that purchases are outpacing new listings at least for the time being. That said, new listings of homes on acreage and horse properties that may not find a qualified buyer for some time could result in prices settling down over the fall and winter seasons.
Market price quartiles for these residential listings range from the top quartile’s median list price of $849,000 featuring homes around 3,800 square foot homes situated on 20+ acreage lots that often include high end equestrian or farming features such as barns, crops and riding arenas. The upper-second pricing quartile comes in at $596,000 median asking price and still includes an average 20+ acres but gives up a little in home square footage at 3,120. The lower third price quartile has a median listing price of $419,450 with acreage coming in at 10-20 acres and a still-spacious average square footage of 2599 for the home. The bottom fourth pricing quartile comes out at a median of $280,000 with a modest 1620 average square foot home on lot sizes averages 0.25-0.50 acres. The real movers in this housing market are the bottom fourth pricing quartile which are selling in an exceptionally fast 40 days, whereas upper second price properties are selling at the glacial pace of 308 days on market.
Molalla, Oregon Housing Market Update
Median list price for homes for sale in and around Molalla, Oregon in Clackamas County have bumped up to $268,800 with an average of 140 days on market. Although average days on market has been creeping up, in general the housing market for Molalla seems stable to mildly positive in this busy late-summer real estate season. Although it should be noted that buyer activity is not evenly spread across all pricing quartiles within the local real estate market and thus reflect the fact that most buyers hit an affordability cap especially when it comes to farms and equestrian/horse properties on acreage.
The top pricing quartile has seen the least buying activity which is reflected in its average of 248 days on market. The top price quartile comes in at a median listing price of $599,000 and features ~2,600 square foot homes on expansive acreage lots of 20+ acres and often include amenities such as farm-land, pastures, agriculture buildings and riding arenas. These premium equestrian features demand a higher price, which explains why these top quartile properties are the slowest to sell. Upper second quartile properties feature acreage lots averaging 2.5-5 acres and ~1648 square foot homes with a median RMLS asking price of $359,000. Upper second quartile properties are selling much faster at an average of 119 days on market. The lower third quartile features homes of ~1,500 square feet on neighborhood lots averaging 6,500-8,000 square feet and are selling in an average of 99 days. Similarly, the bottom fourth real estate quartile are selling in an average of 95 days on market on 4,500-6500 square foot neighborhood lots. House square footage for the bottom fourth quartile averages 1369.
Estacada, Oregon Clackamas County Housing Update
For this first week of September, 2014 properties in Estacada, Oregon have a median rmls listing price of $299,900 with an average of 192 days on market. Available inventory of Estacada homes for sale is dropping however this is balanced by the fact that days on market are on the rise. Unlike some other rural areas within Clackamas County, the number of homes being purchased meets or exceeds the number of new listings in every pricing quartile, with the strongest buyer action being witnessed in the lower third pricing quartile. keep a close watch on average days on market and also the ratio between new listings and purchases in each of the four price quartiles to keep a good pulse on the real estate market in Estacada, Oregon and Clackamas County.
The top pricing quartile for residential housing in Estacada has a median list price of $629,000 and features ~2,844 square foot homes on acreage lots averaging 20+ acres. It’s common for these top tier properties to feature farmland, pastures, equestrian riding arenas and other horse-property amenities. With the top tier’s premium features come a premium price, reflected in the average of 374 days on market for this price category. The upper second price tier in Estacada has a median asking price of $435,000 with 2300 square foot homes on acreage parcels ranging from 5-10 acres typify this price tier. Upper second quartile homes for sale are averaging a relatively brisk 166 days on market, reflective of their more affordable RMLS list price. Lower third quartile homes in Estacada are at a median price of $250,000 and feature ~1850 square feet and neighborhood lot sizes averaging 8,000-10,000 square feet. These lower third tier properties are selling well with an average 106 days on market. The bottom fourth price quartile for residential real estate in Estacada are bargain priced at $185,000 and feature homes around ~1,344 square footage on 8,000-10,000 square foot neighborhood lots. Main differences between bottom priced homes in Estacada and lower third priced homes is that the bottom priced homes average 40 years old whereas the lower third priced homes are only five years old on average.