are home price dropping? Looks like more houses are coming on the market.

Asked by Melanie, Portland, OR Thu Apr 19, 2012

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Juli Gun, Agent, Lake Oswego, OR
Thu Apr 19, 2012
In the Pacific City area market in March of last year, the average sale price year-to-date was $218,053 whereas this year, the average sale price is $247, 169. This is an INCREASE is sale price of 13.35%. That said, buyers are being very selective about the location, condition and price of the homes they are buying and sellers are well advised to price their homes for this market today based upon very recently sold comparable sales.
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HLR, , Oregon
Thu Apr 19, 2012
Depends on the location, some areas are stable, some are still declining until we get into the summer selling season, then we may have a little upturn, but some many folks want to sell that have just been waiting, it will take a long time except I hear bidding wars are happening in the Portland area, but that's good. Foreclosures and Short sales will be here for a lot longer, better to do it slowly so we don't have what some areas of the country have, and all values dropping. Besides the lenders can't do it any faster, their just hoping to get as many good loans, in to make of for the lot of bad loans still on their books.

I work the mid Willamette Valley and it's not bad, but most every area has foreclosures and short sales, high and low valued homes, but the lenders are not giving them away. Again that help keep the market as strong as it can be until they clean all of them up.

Best to you all.

HLR
0 votes
allan erps,A…, Agent, Pearl River, NY
Thu Apr 19, 2012
Stabilizing here although SHort Sales & Foreclosures still have alot to do with the market here.
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Lana Lavenba…, Agent, Grants Pass, OR
Thu Apr 19, 2012
I would say no home prices are not still dropping. They are beginning to level out. The bottom looks to have been hit and its moving up a little again, of course that is dependent on the price range. Anything in Grants Pass below $200,000 seems to be moving quite well and there isnt a large amount of homes on the market.
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