Are the prices of homes in Albany, Oregon going down like the rest of the country?

Asked by Kris, Albany, OR Thu Jun 5, 2008

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Gina Bendel,…, , Albany, OR
Thu Jul 24, 2008
From what we've seen the value of homes in Albany has dropped due to high inventory of homes on the market currently. When there is a lot of competition for similar homes, the tendency is to lower the price to sell more quickly to buyers who can select from so many homes in this market. The market in this area is still doing well when compared to so many others however. Hope this is helpful!
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Kirk Bales, Agent, McMinnville, OR
Thu Jun 5, 2008
Oregon has been a little late to the dance. The Portland Metro area had the first decline this last quarter, 0.4%. It is not a big decline but it indicates that prices are not going up. What we are seeing more of is that the more expensive homes are not selling which is causing the average price to fall. Employment is the bigger factor. As long as there is good employment prices should hold steady. Hope this helps
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