The average selling price is moving up slightly as compared to 2008 for the same period. Higher end properties in the $450,000 and up range are still slow. This may be due in part to the lack of lenders willing to do “jumbo” loans at a reasonable rate of interest. Sales here on the Coast involving new mortgages are moving slowly due to Federal Regulations requiring additional appraisals and stricter underwriting. These changes are adding 60 to 90 days to a process which normally takes 30 to 45 days. Overall list prices are attractive. The number of distressed (foreclosure) properties and short sale properties remains below the National average. One bright spot is that Sellers here on the Oregon Coast are enjoying an increase in the number of showings to potential Buyers once the home is correctly priced. The Oregon Coast remains a highly desirable location.
Property Type |
Avg List Price |
Sold in July |
Avg Sales Price |
List/Sell Price Ratio | Days on Market |
| Site Built | $ 330,418 | 45 | $314,374 | 95% | 179 |
| Manufactured | $ 186,817 | 6 | $172,083 | 92% | 181 |
| Condo | $ 236,747 | 7 | $220,228 | 93% | 260 |
| Land | $ 98,000 | 11 | $ 88,773 | 91% | 205 |
