Oregon Coast Real Estate Blog - Living on the Oregon Coast » Recently Sold Properties

Oregon Coast Home Sales June 2010

Dean — Thu, 01 Jul 2010 23:20:00 +0000

The number of closed sales in June is down slightly from May while the average price increased. As I see it, the drop in sales is due to the expiration of the “Home Buyer Federal Tax Credit” program. The credit expired on April 30, which led to a higher number of May closings. Congress extended the credit for Buyers who had offers in progress as of April 30. Estimates indicate that 160,000 Buyers are in the extension period. It was so successful, that as of today, Congress voted to extend the tax credit through September 30th.

Historically low interest rates (5% or less) make this a great time to buy – especially with a rich inventory. The number of bank owned properties is shrinking as Buyers are discovering the challenges of purchasing “distressed” properties. Good prices? Sure, but you really need an experienced broker to advise and assist. One other factor is the trend with Sellers to list at realistic prices. The aware Seller wants to market the home not be on the market.

This charming Seal Rock cottage had tons of interest and closed after only 54 days on market. Priced at $149,000, it is a great example of pricing a property to sell vs. pricing it to sit on the market.

Property Type	# Sold in June	Average Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	44	$287,704	146	92%
Manufactured	10	$123,360	119	96%
Condos	5	$160,326	217	88%
Land Residential	9	$90,733	258	77%
Multi Family	3	$201,067	99	95%
Bank Owned	14	$218,334	128	92%

Plan a trip to the Coast! The weather is great, activities abound and you can find some excellent buys in homes.

May Real Estate Sales on The Central Oregon Coast

Dean — Thu, 03 Jun 2010 00:31:17 +0000

1925 Newport home which was listed and sold by Winderemere West Coast Properties in May 2010.

This Lovely 1925 home in the heart of Newport is an example of a great buy on the Coast. Lots of character and lovingly maintained makes this a perfect home for the young dance teacher and her musician husband who are the new owners. The list to sale ratio is close to 96%, a little higher than average due to the unique style of the home. This was not a distressed sale as in bank owned or short sale.

Property Type	# Sold in May	Average Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	71	$254,906	179	94%
Manufactured	5	$105,780	240	91%
Condos	1	$235,000	528	94%
Bank Owned	11	$279,190	120	95%

We are seeing more closings of bank owned properties as they represent good buys for the informed Buyer. Short sales are disappearing due to the 10 to 18 month wait for bank approval. We can expect to see more bank owned properties come on the market as Sellers are not able to maintain a short sale position for the time required to work through the banking system. Many of these homes will unfortunately go through the foreclosure process. Even in difficult conditions this is an excellent time to Buy on the Oregon Coast.

April Home Sales on the Oregon Coast

admin — Sun, 02 May 2010 23:48:11 +0000

Oregon coast real estate sales are looking up for Spring. The return of commercial and sport fishing of chinook salmon along the coast for the first time in three years is bound to have an impact on local income and breathe some life in to the local economy.

The Windermere Real Estate Gallery in Seal Rock was pleased to handle this entire home sale in April, representing both buyers and sellers.

Property Type	# Sold in April	Average Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	42	$266,235	236	92%
Manufactured	11	$152,591	158	94%
Condos	4	$239,875	219	90%
Land Residential	5	$177,400	168	87%
Bank Owned	65	$230,807	164	94%

What Sold on the Oregon Coast in March

Dean — Fri, 02 Apr 2010 23:43:21 +0000

Interesting March here on the Central Oregon Coast. Numbers of closed sales were up significantly from February (almost double the numbers) with a higher selling prices by $30,000 average. This does not account for the length of the escrow process which could have been up to 90 days. This means that many of these sales actually started in the Fall of 2009. The number of “bank owned” sales was up slightly but nothing like we are seeing in other, harder hit parts of the Country. The bank owned are selling faster than others which typically means few lenders involved with new financing or a high percentage of cash Buyers. The home featured in this post is a good example of a wonderful Ocean Front Custom home originally listed at $1,250,000 and closed for cash at $799,000. There are bargains to be had on the Oregon Coast if you as a Buyer are willing to take advantage of my experience and market savy. Come on over and let’s have a look together.

Property Type	# Sold in March	Average Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	41	$250,495	194	96%
Manufactured	8	$135,500	179	89%
Condos	8	$247,562	171	93%
Land Residentail	4	$60,000	286	77%
Bank Owned	12	$245,942	95	95%

Home sold by Windermere West Coast Properties in March

Oregon Coast Real Estate Sales Data February 2010

Dean — Thu, 04 Mar 2010 02:36:26 +0000

Properties are selling on the Coast. The higher price ranges are continuing to be slow when compared to the $250,000 and under bracket. Bank owned homes are selling for lower prices compared to individually owned. We are seeing some welcome movement in the condo segment of the market.

The home I’m featuring from amongst those sold in February is a great example of the variety in home styles and locations we enjoy. Located 20 miles East of Newport near Logsden, this 19+ acres parcel is home to frequent visitors such as the Roosevelt Elk seen grazing in the rear yard.

Property Type	February 2010	Avg Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	27	$222,309	181	89%
Manufactured	6	$188,417	163	93%
Condos	8	$147,000	123	83%
Land Residential	3	$147,000	100	92%
Multi Family	-	-	-	-
Bank Owned	9	$208,333	143	93%

If you have a desire to establish your own corner of paradise on the Oregon Coast, come on over or give me a call. I’m happy to help.

What’s Selling on The Oregon Coast

Dean — Wed, 02 Dec 2009 01:49:26 +0000

Sales continue here on the Coast. November showed a slight decrease from October for the number of site built homes sold.
We saw 12 fewer closings with a higher sale price: $284,866 versus $277,899 for October. List to Sale price stayed at 96% while days on market dropped from 181 days to 140 average.

Property Type	Sold in October	Avg Sales Price	Days on Market	Under Contract
Site Built	45	284,866	140	96%
Manufactured	11	140,673	205	96%
Condos	10	230,820	225	92%
Land	11	132,570	122	76%
Multi family	0	0	0	0
Commercial	0	0	0	0

The home pictured was listed for 91 days. This home had been listed with another company for two years until a Windermere broker took over and got the job done. The home was in excellent condition with a wonderful view, two things that are difficult to match in our market.

Seal Rock home sold in November 2009 by Windermere Real Estate Gallery.

If you would like to view other central Oregon coast homes like this one, please feel free to give me a call at 541-270-3304 or drop an e-mail my way. Contrary to popular belief, showings and sales do continue through the holidays.

Oregon Coast Real Estate Sales October 2009: Increased Activity from Informed Buyers

admin — Tue, 03 Nov 2009 03:05:54 +0000

Closings are increasing slightly, with average sales prices hovering between $250,000 and $280,000. People are feeling more optimistic — with good reason: mortgages are coming to the closing table in under 45 days. In addition, the condo market is seeing more closings than we have all year, as banks are willing to make loans on them again.

Property Type	Sold in October	Avg Sales Price	Days on Market	Under Contract
Site Built	57	277,899	181	96%
Manufactured	6	141,917	208	90%
Condos	9	241,611	155	97%
Land	11	80,800	310	68%
Multi family	2	372,500	95	87%
Commercial	2	176,000	478	64%

Even though the Featured Sold Property this month was a Short Sale, we don’t see a lot of distressed properties on the Coast. They are incredibly complicated transactions and I don’t often recommend people pursue this type of purchase. If you’re looking for a bargain — I have many properties I can recommend. Just get in touch.

This home sold in October.

Return of the Multiple Offer Market: Oregon Coast Real Estate September 2009

admin — Tue, 06 Oct 2009 00:54:34 +0000

There is a pattern of good activity in the price range of $250,000 to $380,000 – with some properties getting multiple showings
and even a few multiple-offer situations which have been absent for two years. The prevailing Buyers are those who offer with pre-qualifications or all cash. The key word is to work with your real estate broker and your lender to be fully prepared prior to entering into a sales aggreement. It is a waste of time and money to try and find the perfect property and then figure out how to pay for it. Just as Buyers are more sophisticated so are Sellers. So be prepared to deal.

Property Type	# Sold in Sept	Avg Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	49	$310,288	117	92%
Manufactured	8	$184,438	132	95%
Condo	10	$185,338	155	94%
Land Residential	8	$306,425	77	75%
Multi Family	2	$139,500	115	80%

This home, which sold in September, featured architecture inspired by Mt. Hood's Timberline Lodge. And its location and view were equally inspiring (see picture above left.) If you're looking to buy or build something equally inspiring, get in touch! This wasn't the only spectacular home on the market!

What’s Selling on the Oregon Coast: August 2009 Sales Data

Dean — Thu, 03 Sep 2009 15:46:46 +0000

In a continuing trend which began in May of this year, home sales are on the increase here on the Coast. The percentage of list to sale price remains almost unchanged for the previous 30 days at 95% with days on market coming down to 134 average for site built homes. Negotiations continue to be challenging as Sellers and Buyers strive to reach their individual objectives. New loans continue to be difficult to obtain without excellent credit and a reasonable down payment. Inspectors, appraisers and lenders are looking at individual properties under a microscope to uncover any flaws that will affect the property value. The word to Sellers here is make sure everything is in tip-top shape prior to going on the market.

Property Type	# Sold in May	Average Sales Price	Days on Market	Avg % of List to Sale Price
Site Built	35	$351,537	134	95%
Manufactured	10	$184,450	172	94%
Condos	9	$239,611	239	92%
Land Residential	9	$87,206	152	83%

Photo of the months sold is of an Alsea Riverfront log home, listed and sold by Windermere West Coast Properties.

Oregon Coast Real Estate Sales Data – July 2009

admin — Tue, 04 Aug 2009 18:45:33 +0000

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