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    Salem, Oregon – Real Estate Market Snapshot


    Have you been thinking about buying a new home?

    We understand your situation. At HomeSmart not only are we Brokers dedicated to making the home buying process smooth and easy for YOU, we are also home buyers ourselves. Shocker, I know. Sometimes you are forced into a purchasing decision based on factors that have changed your life, marriage, new baby, inheriting a parent-in-law however often times we find ourselves just wanting a new home based on a natural want or desire.

    In those situations I say, lets talk facts. While its quite alright to be driven my emotion the best course of action is to make your final decision based on facts. I believe the saying goes “Follow Your Heart but Take Your Brain With You”.  Your home buying experience should be an enjoyable one and also one you can look back on confidently knowing that by working with your HomeSmart Broker, you were informed enough to make a well-educated decision.

    So, is NOW a good time to buy?

    Average Sales Prices. Are they going up or down?

    -Up, they are going up. In Salem year over year (2015 over 2014) the average sales price has gone up 8%

    Are Houses Still Selling in Today’s Market?

    -Yes! We are in one of the healthiest real estate markets since 2008

    Is NOW a Good Time to Buy Real Estate?

    -Unequivocally YES. While loan rates remain low and before sales prices rise again NOW is an ideal time to invest in real estate.

    The nitty gritty: Average price per square foot for Salem OR was $131, an increase of 11% compared to the same period last year. The median sales price for homes in Salem OR for Oct 15 to Dec 15 was $194,450 based on 562 home sales. Compared to the same period one year ago, the median home sales price increased 8%, or $14,450, and the number of home sales increased 3.3%. There are currently 994 resale and new homes in Salem, including 194 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Salem OR was $263,288 for the week ending Dec 30, which represents a decrease of 0.4%, or $974, compared to the prior week. Popular neighborhoods in Salem include West Salem and South Gateway, with average listing prices of $281,298 and $289,185.

    Its time to pick a Real Estate agent. At HomeSmart our agents have taken the time and consideration to become true area experts. Whether you are looking for a particular school district or to relocate closer to your job we have the market knowledge to find you your ideal home. You know the one I’m talking about… the one you will be proud to call HOME.

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