2008 Real Estate Review Active Offices
January Active Listings
2008
2009 2009
6,402
% of Change
6,956
2001 2002 2003 2004 2005
332 338 359 392 442
Combined Sales Force 1,380 1,395 1,488 1,618 1,898
Total Listing Issued 14,233 13,869 14,377 15,105 15,307
Total Annual Sales 7,877 8,202 9,084 9,894 11,576
Total Annual Dollar Volume $1,152,263,314 $1,225,870,920 $1,468,312,025 $1,761,745,381 $2,302,562,120
2006
487
2,131
16,585
10,587
$2,435,687,568
2007
505
2,194
18,425
8,899
$2,226,574,295
2008
481
1,898
16,957
5,954
$1,433,604,120
8.65%
1984 to 2008 Average Sales Prices (all types, all areas) 300,000 250,000 200,000 150,000 100,000 50,000 0
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
54,591 53,582 53,279 53,547 57,263 62,968 66,718 72,002 78,723 86,339 98,379 107,670 117,470 127,493 136,601 140,886 144,482 146,282 149,460 161,637 179,917 198,908 230,064 250,205 240,780
2008 to 1997 Closed Sales by Month
2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
JAN 380 646 800 808 510 568 559 415 454 566 457 521
FEB 421 676 737 656 575 550 498 442 455 423 477 414
MAR 541 714 917 920 761 723 657 653 635 625 620 569
APR 565 837 826 845 839 732 693 632 611 660 770 559
MAY 577 924 1025 1001 838 800 748 757 661 617 699 747
Number of Sales 14 11576 10587 9894 10 9084 8899 79638018 78778202 8 7850 7233 5954
JUNE 551 916 1064 1101 1027 795 825 757 733 819 824 709
JULY 617 871 937 1047 921 862 726 758 638 743 802 816
Number of Sales
Thousands
12
6 4
2 0 1997 1999 2001 2003 2005 2007 1998 2000 2002 2004 2006 2008
2000 2001 2002 2003 2004 2005 2006 2007 2008
AUG 528 889 1077 1143 991 879 759 760 674 892 757 743
SEPT 528 685 896 1195 901 914 733 687 605 744 680 883
Percent Increase/ Decrease From Previous Year -9.79% 8.90% 4.13% 10.75% 8.92% 17.00% -8.54% -15.98% -33.06%
OCT 502 675 882 1017 829 930 740 821 635 709 713 769
NOV 386 543 765 971 680 665 643 562 617 579 571 593
DEC 358 523 671 823 764 670 621 652 534 657 593 527
2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Total Annual Dollar Volume 3000 2500 2000 Millions
1400 1200 1000 800 600 400 200 0
1500 1000 500 0
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Residential Average Sales Prices by Area
Top Sales Terms
350
3,000
300
Thousands
4,000
2,000
1,000
250 200 150
% Chg = Percent of change from previous year
AREA
Keizer 10 Central 20 SubEast 30 SubEast 35 Southeast 40 South 50 West 60 Benton 70 Linn 80 Marion 90 Polk 95 Total Average
80
90
95
Linn
Marion
Polk
OS
70 Benton
50
60
50
West
71
South
193
598
Southeast 40
3,758 993
1TD LSC
SubEast 35
VA
SubEast 30
CNV CSH FHA
Central 20
100
Keizer 10
0
Residential Average Sales Prices by Area
2004
% Chg 03/ 2004
2005
% Chg 04/ 2005
2006
% Chg 05/ 2006
2007
% Chg 06/ 2007
2008
% Chg 07/ 2008
$170,910
4.34
$189,658
11.0%
$225,355
18.82%
$229,379
1.79%
$231,879
1.1%
114,336
4.71
128,012
12.0%
154,369
20.59%
157,079
1.76%
153,849
-2.1%
147,962
4.56
159,430
7.8%
180,207
13.03%
206,858
14.79%
191,029
-7.7%
129,690
-11.16
142,444
9.8%
162,865
14.34%
199,803
22.68%
192,505
-3.7%
181,174
4.90
207,514
14.5%
243,589
17.38%
276,266
13.41%
256,201
-7.3%
193,863
-0.74
217,470
12.2%
262,437
20.68%
311,226
18.59%
288,442
-7.3%
197,247
2.39
233,278
18.3%
275,932
18.28%
294,995
6.91%
257,827
-12.6%
218,548
7.58
230,087
5.3%
273,058
18.68%
306,557
12.27%
299,687
-2.2%
126,797
-5.84
145,597
14.8%
167,923
15.33%
194,920
16.08%
191,847
-1.6%
157,636
-4.70
174,232
10.5%
209,524
20.26%
249,100
18.89%
231,951
-6.9%
149,960
-0.89
165,458
10.3%
189,622
14.60%
232,396
22.56%
222,252
-4.4%
$180,172
9.79%
$199,754
10.9%
$232,943
16.61%
$249,203
6.98%
$240,406
-3.5%
January 2009
2008 New Construction Statistics A member owned cooperative MLS Since 1949 New Construction Residential
Area 10 Keizer
Units Sold 12 Mos to date
37
Average Sales Price
Area 30 Suburban NE
Area 35 Suburban SE
Area 40 SE Salem
Area 50 South Salem
Area 60 West Salem
Area 70 Benton County
Area 80 Linn County
Area 90 Marion County
Area 95 Polk County
1
11
16
98
41
73
103
264
114
69
$264,737
$210,000
$237,230
$214,203
$301,490
$385,866
$307,846
$349,516
$217,608
$281,588
$251,951
Average Square Footage
1,955
1,800
1,771
1,429
2,274
2,699
2,338
2,269
1,701
1,961
1,900
Average Cost per Square Foot
$135.00
$117.00
$134.00
$150.00
$133.00
$143.00
$132.00
$154.00
$128.00
$144.00
$133.00
Average Day on the Market
167
99
160
87
156
310
189
208
187
162
167
Currently Active Listings
26
108
15
21
124
55
98
83
206
129
50
New Construction Residential
Area 20 Central Salem
Sales 2003
Sales 2004
Sales 2005
Sales 2006
Sales 2007
Currently Active
Currently Pending
Units
1,484
1,512
2,047
1,812
1,426
987
65
Average Price
$181,635
$199,604
$230,791
$262,089
$286,090
$310,260
$266,988
Average Square Footage
1,762
1,775
1,905
1,929
2,013
2,040
2,159
Average Cost per Square Foot
$104.00
$112.00
$121.00
$136.00
$142.00
$152.00
$124.00
Average Days on the Market
149
153
151
162
174
170
96
Equal Housing Opportunity
Many factors contribute to fluctuations in data users should analyze over an extended period to ascertain market trends. copyright 2009 WVMLS all rights reserved
Residential Sales by Number of Bedrooms
662
3,129
992
180
$158,671
$226,745
$298,825
$352,745
1,104
1,587
2,266
2,871
$144.00
$143.00
$132.00
$123.00
115
125
146
163
521
2,437
1,079
222
Units Sold
5 Bedrooms
5 Bedrooms
4 Bedrooms
4 Bedrooms
3 Bedrooms
3 Bedrooms
2 Bedrooms
Number Sold 12 Months Average Sales Price Av. Square Footage Average Cost Square Foot Days on Market Active on the Market
2 Bedrooms
700 Sold Listings Days on Mkt Currently Active
600 500 400 300 200 100 0
40-49999 50-59999 60-69999 70-79999 80-89999 90-99999 100-109999 110-119999 120-129999 130-139999 140-149999 150-159999 160-169999 170-179999 180-189999 190-199999 200-224999 225-249999 250-274999 275-299999 300-349999 350-399999 400-449999 450-499999 500-749999 750-999999 1000000+
Units Sold / Days on Market/Active
Residential Listings by Price Range 12 Mos
Price Ranges
Residential Sold Price Analysis A R E A
2006 Units Sold
2006 Dollar Volume
2007 Units Sold
2007 Dollar Volume
2008 Units Sold
Active on the Mkt
10
450
$101409885
412
$94504001
323
207
20
469
72399034
344
54035257
274
30
567
102177561
394
81502005
35
360
58631233
348
40
804
195845887
50
331
60
2008 Dollar Volume
Original Average List Price
Average Sales Price
% Sale to List
Days on the Mkt
Average Square Footage
Price Per Square Foot
$74897020
$244067
$231879
95.0
111
1702
$136.00
250
42154634
163931
153849
93.8
105
1364
113.00
224
186
42790668
206072
191029
92.7
110
1462
131.00
69531312
188
177
36190994
202723
192505
94.9
105
1439
134.00
703
194214790
524
433
134249831
279538
256201
91.6
129
1895
135.00
86866612
296
92122984
239
215
68937767
310639
288442
92.8
140
2090
138.00
526
145140013
454
133927944
359
323
92560017
276879
257827
93.1
140
2000
129.00
70
867
236740959
856
262412624
694
458
207983358
319123
299687
93.9
129
1890
159.00
80
1671
280599297
1558
303684845
1001
908
192039504
204570
191847
93.7
141
1533
125.00
90
921
192971879
963
239883006
544
577
126181680
251512
231951
92.2
133
1644
141.00
95
530
100499559
575
133627769
351
294
78010797
239346
222252
92.8
134
1622
137.00
OS
444
106886614
476
151019711
298
356
91182903
337603
305982
90.6
131
1722
178.00
New Listings by the Month 2500
Percent of Sales Price to List Price 2001
2000
100
95
2002
1500
2003
93.8 92.7 94.9 91.6 92.8 93.1 93.9 93.7 92.2 92.8 90.6
80
1000
2004
60
500
2005
40
0
2006
20
NOV 957 972 876 1041 1053 1176 1185 1039
DEC 565 701 935 841 843 834 819 799
0
2008
Area OS
OCT 1193 1156 1237 1110 1171 1549 1571 1278
Area 95
SEP 1150 1122 1156 1094 1376 1452 1429 1414
Area 90
AUG 1214 1247 1195 1350 1510 1661 1780 1343
Area 80
JUL 1194 1277 1419 1393 1311 1557 1655 1708
Area 70
JUN 1294 1160 1380 1367 1544 1781 2022 1647
Area 60
MAY 1450 1275 1211 1402 1367 1610 1980 1535
Area 50
APR 1230 1273 1296 1272 1386 1323 1699 1639
Area 40
MAR 1366 1285 1199 1412 1397 1395 1664 1609
Area 35
FEB 1318 1022 1291 1188 1129 1130 1327 1573
Area 30
JAN 1308 1271 1182 873 1231 1117 1284 1373
Area 20
2001 2002 2003 2004 2005 2006 2007 2008
Area 10
2007
Average Days on the Market 150 129 111
140 140
129
Average Sales Price Per Square Foot By Area Including Lot
141 133 134 131
200
105 110 105
178
100
159
150
131 113
50
134
135
138
129
141 125
137
100
Area OS
Area 95
Area 90
Area 80
Area 70
Area 60
Area 50
Area 40
Area 35
Area 30
Area 20
50 Area 10
0
136
0 Area 10 Area 30 Area 40 Area 60 Area 80 Area 95 Area 20 Area 35 Area 50 Area 70 Area 90 Area OS
3421 25th St. SE Salem, Oregon 97302-1122 (503) 399-8657 1 800 944-3138 The Statistics presented in this update are compiled by the WVMLS. Statistics reflect sales made by member offices for properties listed in the Willamette Valley, Oregon. Many factors contribute to fluctuations in data. Users of this report should analyze data over an extended period to ascertain market trends. Information is deemed reliable but not guaranteed. Copyright 2009 WVMLS All rights reserved Executive Vice President/Editor Jay A. Gordon We welcome your comments and suggestions.
1998 to 2008 Residential Average/Median Sales Prices 300,000 250,000
Equal Housing Opportunity
All statistical reports are available on the web at WVMLS.COM
200,000 150,000 100,000 50,000
AREAS: Keizer
0
#
1998
10
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
136,601 140,886 144,482 146,282 153,589 164,103 180,172 199,754 232,943 249,203 240,406
Central Salem
20
Suburban East
30
Suburban SE
35
Southeast Salem
40
South Salem
50
West Salem
60
Benton County
70
Linn County
80
Marion County
90
Polk County
95
126,000 127,000 129,900 135,000 138,555 147,273 156,900 172,400 199,900 217,000 210,000
Factoid: The average new home sold in the Willamette Valley is a 3 bedroom, 2 bath with 2,042 square feet plus a 2 car garage. The average cost per square foot for a new home is $141.00 including a 7,000 square foot lot. Closed Sales December 2008 Full Year 2007 December 2007 Full Year 2006
New Listings
Pending Listings
358
799
472
Average Sales Price $218,226
% List Price to Sales Price 95.40%
8,899
18,425
5,889
$250,205
97.62%
523
819
404
$225,649
96.23%
10,587
16,585
7,103
$230,064
98.62%