Estacada, Clackamas County Oregon
Zip code 97023
April 7th, 2014
Residential Properties: Rural Housing Update
For the current week of 04/7/14 residential homes for sale in Estacada, OR have a median asking price of $245,400. Available inventory (defined as homes for sale on RMLS) is trending upward strongly while average days on market is trending down moderately. Asking price as well as price per square foot is remaining steady. All of these positive signs are tempered somewhat by the fact that market action from well-qualified buyers is trending down strongly as well. This strong increase in available homes combined with flagging interest amongst buyers may indicate softening in the market.
Farms & Homes on Acreage
Homes for sale on acreage in the Estacada housing market represent the top pricing tier of available properties with average lot sizes in excess of 20 acres. These acreage and horse properties are slow to list and sell with no new acreage listings and none sold. At a median asking price of $649,000 some of these acreage properties remain elusive for many buyers faced with the realities of today’s economy. As such, few are available for sale and few buyers feel comfortable with the price tag. Upper/second price tier properties available at an average asking price of $315,000 on lots from 1-2.5 acres are much more attainable. In this $315,000 price bracket, there have been 3 new listings in this price bracket while only 2 Estacada, OR properties have sold.
By Richard Lockwood
Real Estate Broker
Licensed in the State of Oregon