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Real Estate Sales in Corvallis Limited to the High End Market

Last Modified: 05/13/08
First Published: 05/13/08
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Comments: 1 Views: 379

Corvallis Median sales prices rose to $290,000 for April 2008. In April 37 homes were sold in Corvallis, six were listed at more than $500,000. More troubling is the fact that homes in the under $200,000 price range comprised sightly more than 10% of the total homes sold.

This portends trouble for the Corvallis Real Estate Market. The first time buyer and move-up range buyer will be shut out of the market in the Corvallis area.

Home sales are down year over year. Last April 2007 66 homes were sold in the Corvallis Real Estate Market. This accounts for an approximately 44% percent reduction in sales.

Moreover the raw number difference can be attributed to the lack of sales in the under $200,000 range.

Statistics are the key here. When the number of lower priced homes is not factored in the median sales price it is a mathematical point that cannot be ignored. The median sales price will be artifically improved due to the lack of raw number and lower sales price data. 



Comments
Wed May 14, 2008 11:36 am
Name: aml | Comment: Essential in keeping and expanding the sustainable vision & spirit Corvallis has set forth, is the city's young, working families already in Corvallis - who want to stay in Corvallis. Unfortunately, they are all moving to North Albany and soon Corvallis will be nothing but Retirees and college students. This market is ridiculous and elite - and far from a sustainable spirit.

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