Market Conditions in 97601>Question Details

Rosemarie, Other/Just Looking in Klamath Falls, OR

How does the median price for 97601 compare with resort property?

Asked by Rosemarie, Klamath Falls, OR Thu Feb 19, 2009

We live at the Running Ranch resort on Klamath Lake and have heardn that resort property tends to hold it's value better than other......

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Hi Rosemarie,
You are correct that resort property would likely be of more value than non-resort property. You probably paid more for it when you purchased it, and you could sell it for more than traditional homes. However, the resort property has declined about the same amount as non-resort property in Klamath Falls. Our median home price for properties located in the city and suburbs fell 23% over 2009.

We have no sold properties at the Running Y so far in 2009 to compare with. However, in 2007 the average sales price was $517,845 vs. 2008 average sales price at $584,357...so as far as price goes, it went up. However, in 2007 12 homes were sold, and in 2008 7 homes were sold, so it's getting tougher to sell in our current market. There are presently 25 active listings at the Running Y right now, with an average list price of $578,975. These are for Running Y homes - not including condo's, chalet's, etc., and includes the Ranch View homes, which are typically lower-priced than the custom homes.

The current outlook is for prices to continue to fall in Klamath Falls real estate as more foreclosures hit the market. However, with all the stimulus bills floating around, and historically low interest rates, the market should stabilize by the end of the year.

If you'd like detailed statistics on the Klamath Falls housing market, feel free to visit my website at http://www.KimSwagert.com and click on the "Monthly Market Stats" button to your left.

I hope this is helpful. Feel free to contact me at KlamathKim@aol.com with any questions.
Web Reference: http://www.KimSwagert.com
0 votes Thank Flag Link Thu Feb 19, 2009
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