Residential real estate in Molalla, Oregon has a current median asking price of $218,725. Homes on acreage with Molalla addresses located outside the city limits fetch more in proportion to the acreage and improvements included with the property. Much like the rest of Clackamas County, homes on acreage remain in high demand and Molalla is no exception. Top tier properties for Molalla’s 97038 zip code feature lot sizes exceeding 20 acres and often include various outbuildings such as barns, equestrian arenas, stables, farm/agriculture buildings and other appurtenances that add value to the property. These homes on acreage and horse properties in Molalla have an average list price of $557,500 and are taking around 212 days on average to sell. But, it’s worth noting that this 212 days is lower than some other areas within Clackamas County for similar homes on acreage. The lower three pricing tiers for homes for sale in Molalla generally include homes within the city limits in suburban style neighborhood subdivisions and offer a number of pleasant housing options… Just don’t expect to waltz into a 20+ acre horse property with a nice home on it without paying a fair price for it.
Molalla Housing Market, Supply & Demand
For this week more homes have been listed on the market than have sold which may indicate some increased competition amongst sellers which often takes the form of price reductions. The Market Action Index has been trending down while inventory of available residential properties for sale has been climbing. And, if this trend of increasing supply and weaker demand continues some Realtors fear that prices may settle a bit*. Now, before this causes any undue alarm it’s worth noting that small price settling and competition amongst sellers is often normal and healthy in a housing market and these small dampers on prices may well keep the housing market stable for the future and lower the chances of another costly bubble. All in all, it’s a great time to buy real estate if you need a great place to live. And conversely, if it’s time for a change of scene for your life and you need to sell you may just be pleasantly surprised with how much we can get you for your home.
As always, call us to learn more and to start your next chapter.
*This article is opinion and should not be taken as investment advice, nor does this article make any attempt to predict future real estate profits or losses and should be read for entertainment purposes only.
By Richard Lockwood
Real Estate Broker
Licensed in the State of Oregon