Dava Behrens’ 2014 Corvallis, Albany, & Surrounding Areas Market Study
About Dava: As a licensed real estate broker in the state of Oregon. I love my job and the wonderful people with whom I meet and interact. I have lived in Corvallis for more than 20 years and I love it here. The weather, the natural green environment, the close proximity to the coast and the mountains, the wonderful people, and the community I call home. I love it all.
I am known as many things to different people. Wife, mother, grandmother, sister, aunt, daughter, friend, real estate maven, scrapbooking buddy, amateur gardener, neighbor, mermaid collector, and crazed photographer.
I love to garden and play with plants. My favorite flower are orchids, but I also have an affinity for succulents. An que shopping is another pas me I enjoy, especially when I find something to plant those succulents in!
I am thoroughly involved within my community. I support local organiza ons like the Arts Center, Heart of the Valley Children’s Choir, and the Corvallis Boys and Girls Club.
I am a Southern California transplant and s ll have a deep apprecia on for the ocean, surfing, and Woodie cars.
I have been involved in all aspects of real estate transac ons for my en re life career: sales, finance, tle, escrow, and construc on. This experience gives me the knowledge to guide my clients through what is usually the most significant financial event of their lives— buying or selling a home. As a full‐ me, full service real estate professional, I am commi ed to “doing what it takes” to deliver superior customer service.
Designa ons: Cer fied Home Marke ng Specialist Cer fied Nego a on Specialist Graduate Realtor Ins tute® General Member of Council of Residen al Specialist (CRS)
Memberships: Willame e Associa on of REALTORS® Oregon Associa on of REALTORS® Na onal Associa on of REALTORS®
Awards: Cer ficate of Excellence in 2009 from Benton County, City of Corvallis Historic Resources Commissions, and Preserva on Works for my work with the historic neighborhoods of Corvallis Willame e Associa on of REALTORS® 2012 REALTOR® Of The Year for my level of involvement and commitment to my community and REALTOR® standards Coldwell Banker® Company Awards Interna onal President’s Circle Interna onal Diamond Society Interna onal Sterling Society
Source This market study was compiled using informa on from the Willame e Valley Mul ple Lis ng Service. Although the WVMLS does not include 100% of the market, it does comprise a significant majority. The sta s cs, trends, and informa on contained herein are an accurate reflec on of the Mid‐Willame e Valley market.
Area This report covers property within both Linn and Benton coun es, in specific ci es. It does NOT include outlying areas and Alsea, Monmouth, Brownsville, Jefferson, Scio, Sweet Home, or other small communi es.
Time This report was prepared in January of 2015. Sales figures have been compiled since 2005. The term “Currently Listed” refers to proper es ac vely listed for sale and pending sales in the WVMLS as of January 1, 2015
Corvallis Residen al Proper es
Number of Sales Average Sale Price
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
780
769
655
479
474
469
496
573
690
658
$253,014 $292,467 $307,955 $298,882 $279,950 $279,284 $272,966 $285,772 $298,514 $303,323
% Change in Price VS Previous Year
7.2%
15.6%
5.3%
<2.9%>
<6.3%>
<0.2%>
<2.3%>
4.7%
4.5%
1.6%
Days on Market
108
107
102
113
136
128
127
118
99
98
292
268
266
209
150
151
105
Number of Sales
Number of Ac ve Not Avail Not Avail Not Avail Homes
Year
Currently Ac ve Homes
Average Sales Price
Corvallis Residen al Proper es
Year
Year Summary Compared to 2009 and 2010, the Corvallis market has made steady progress toward recovery. Volume of sales is down. Lack of sales is directly ed to limited inventories. Buyers are “in the market” but unable to find proper es to purchase. Average price is up, but minimally, more likely a func on of the combined factors of a slight ck up in price per square foot and a slight ck up in the average size of homes sold vs a func on of true apprecia on.
Albany Residen al Proper es
Number of Sales Average Sale Price % Change in Price VS Previous Year Days on Market
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
1012
938
774
487
466
462
432
469
516
553
$171,735 $193,506 $199,102 $193,472 $179,570 $159,209 $152,843 $159,435 $172,021 $181,457
15.6%
12.7%
2.9%
<2.8%>
<7.2%>
<11.3%>
<4.0%>
4.3%
7.9%
5.5%
118
107
128
143
136
133
139
135
131
110
343
357
276
225
180
156
127
Number of Sales
Number of Ac ve Not Avail Not Avail Not Avail Homes
Year
Currently Active Homes
Average Sales Price
Albany Residen al Proper es
Year
Year Summary Albany’s market has shown steady increases in volume of sales over the last few years, but nowhere near the numbers of 2005 and 2006. In those years, the market was saturated with new construc on. That excess inventory and the general downturn created a market of excess inventory. It appears that the inventory has re‐absorbed and the market has returned to a more “normal” status.
North Albany Residen al Proper es
Number of Sales Average Sale Price % Change in Price VS Previous Year Days on Market
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
194
107
120
107
115
140
114
146
216
230
$283,696 $292,915 $331,008 $306,623 $260,962 $246,155 $227,137 $244,220 $255,346 $259,377
22.5%
3.2%
13.0%
<7.4%>
<14.9%>
<5.7%>
<7.7%>
7.5%
4.6%
1.6%
137
107
112
155
134
144
166
145
119
126
83
99
86
74
63
75
50
Number of Sales
Number of Ac ve Not Avail Not Avail Not Avail Homes
Year
Currently Active Homes
Average Sales Price
North Albany Residen al Proper es
Year
Year Summary North Albany was also affected by the economic downturn, but not with the degree evidenced by Albany Linn County. Sta s cally, the market sample is much smaller, so small fluctua ons tend to be magnified. Average sales price has fallen significantly in part due to higher volumes of sales in lower price ers. More homes selling at lower prices bring down the average. Successful builder product (new home sales) has contributed to the improvement in the North Albany market.
Philomath Residen al Proper es
Number of Sales Average Sale Price
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
99
96
69
75
67
79
75
68
82
91
$227,525 $272,148 $313,214 $278,776 $237,706 $242,126 $248,024 $218,373 $230,932 $281,054
% Change in Price VS Previous Year
6.9%
19.6%
15.1%
Days on Market
107
95
111
1.9%
2.4%
<12.0%>
5.8%
21.7%
163
162
159
147
127
142
162
87
64
47
41
39
28
37
Number of Sales
Number of Ac ve Not Avail Not Avail Not Avail Homes
<11.0%> <14.7%>
Year
Currently Active Homes
Average Sales Price
Philomath Residen al Proper es
Year
Year Summary
Like North Albany, the overall volume and size of the Philomath market makes it difficult to measure. There simply is not enough data to draw conclusions. However, when compared with other markets, the downturn symptoms of high inventory and fewer sales; increased days on market; and dip in average sales price; have reversed. The pa ern is consistent. The most recent two years of data indicate stabiliza on.
Lebanon Residen al Proper es
Number of Sales Average Sale Price % Change in Price VS Previous Year Days on Market
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
512
475
348
237
261
310
292
276
326
353
$155,303 $177,663 $182,249 $184,027 $154,481 $151,786 $135,051 $147,304 $166,657 $167,619
11.8%
14.4%
2.6%
1.0%
<16.1%>
<1.7%>
<11.0%>
9.1%
13.1%
0.6%
120
107
115
131
158
155
146
142
138
133
266
249
222
207
135
135
118
Number of Sales
Number of Ac ve Not Avail Not Avail Not Avail Homes
Year
Currently Active Homes
Average Sales Price
Lebanon Residen al Proper es
Year
Year Summary Like Albany, the Lebanon market was impacted by an influx of new construc on which brought excess inventory, which in turn required me to absorb and affected values. Currently the Lebanon market overall appears to be a seller’s market, but a closer look would indicate that in the price range between $250,000 and $350,000, market is balanced or slightly lted toward a Seller’s market. There is insufficient data to support calcula on of inventory in the price ers beyond $350,000. It appears that this market has leveled out and stabilized, but there is limited support for higher end proper es.
2014 Success Stories
3875 NW Wisteria Way, Corvallis
2855 NE Lancaster Street, Corvallis
767 Glenwood Street, Lebanon
3333 Countryman Circle NW, Albany
4965 Mimosa Circle, Sweet Home
1277 20th Avenue NW, Albany
2512 NW Grant Avenue, Corvallis
3322 Woodbine Place, Philomath
2908 Pine Street SE, Albany
5410 SW Windflower Drive, Corvallis
8262 Hyacinth Court, Corvallis
1755 NW Woodland Drive, Corvallis
426 Benton View Drive, Philomath
5440 SW Windflower Drive, Corvallis
3008 NW Morning Glory Drive, Corvallis
1943 NW Woodland Drive, Corvallis
Land on Kings Valley Highway
804 SW 5th Street, Corvallis
1449 NW Green Place, Corvallis
2014 Success Stories
1750 NW Polk Avenue, Corvallis
5808 NW Fair Oaks Place, Corvallis
583 McCall Way, Philomath
1135 NW 35th Street, Corvallis
1860 NW Beca Avenue, Corvallis
6035 NW Burgundy Drive, Corvallis
3320 NW Deer Run Street, Corvallis
3700 SW Brooklane Drive, Corvallis
1815 NW Garfield Avenue, Corvallis
816 NW Jackson Avenue, Corvallis
1130 NW 11th Street, Corvallis
775 NW Conifer Boulevard, Corvallis
4683 SW Hollyhock Circle, Corvallis
2764 NW Johnson Avenue, Corvallis
34050 Belts Drive, Harrisburg
2612 NW Ginseng Place, Corvallis
4130 SW Fairhaven Drive, Corvallis
2847 SE Park Place, Corvallis