Tag Archives: Aurora Oregon Home Sales

Aurora, Oregon’s Magic Housing Number

12 Feb

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

Abundant Aurora Area Real Estate Information Can Seem Like Drinking Water From A Fire Hydrant

TMREI: Too Much Real Estate Information
Sometimes absorbing the sea of Aurora, Oregon real estate information is more like drinking from a fire hydrant. Yet, out of all the seemingly helpful real estate data bandied about, there is one especially helpful number, which when understood, can provide near-magical clarity to both Aurora, Oregon homebuyers and homesellers.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

You Needn’t Be a Magician to Understand Aurora, Oregon Home Inventory

What Is It?
What is this ‘magic’ number and what does it represent? Simply put, it’s the current figure for housing inventory, typically expressed in months of projected home supply.

Listen to the audio podcast presentation of this helpful program on Aurora, Oregon real estate by clicking here or on the above link.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

Aurora, Oregon Real Estate Inventory is Different Than Bingo

Housing inventory is also sometimes known as home inventory or housing backlog. Why is this number so important? Once you understand the single figure that defines our current supply of local available Aurora, Oregon homes for sale, you have an instant ‘snapshot’ on whether you’re in a buyer’s market, seller’s market, or more of a balanced real estate market. Armed with that information, you’re far more ready to do battle in the real estate trenches and more likely to avoid some usual minefields. 

Normal Home Supply
Among real estate experts, a ‘normal’ range for home supply in parts of Oregon-including Aurora-is frequently cited as somewhere between three to six months. For example, if the home supply figure is three, then hypothetically our market would be ‘out of homes’ in three months, provided no new homes were placed for sale. In other words, if our regional home inventory figure is within three to six months, we’re typically experiencing a normal market, meaning one not far from a balance of supply and demand, also called equilibrium. In a way, it’s kind of like an absorption rate for how fast supply is used up.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

Your Mileage May Vary
It’s helpful to understand that home inventory figures are more of an average for a region. In Oregon, major real estate regions include Portland, Bend, Eugene, Salem and the Oregon Coast. Aurora is equidistant between Portland and Salem, so the market might be considered a ‘hybrid’ of sorts. Schools can also be a driver for many homebuyers and given the Clackamas County/Marion County ‘divide,’ it makes sense to consider this factor when analyzing Aurora’s unique Oregon real estate market niche.

So if your property is located in or near Aurora within Clackamas County, the Portland area inventory figure is frequently cited as a bellwether for housing backlog. If your home is located in or near Aurora within Marion County, the Salem inventory figure provides an alternative approximation of local home supply. It’s also likely that your specific area could be somewhat different altogether, based on a variety of hyper-local factors affecting both demand and supply. That said, home inventory is an undeniable and convenient ‘thumbnail’ sketch to help assess what kind of market you’re in.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

What’s The Practical Impact of Housing Inventory?
Consider real estate and inventory like a pipeline. If more flows through it, the product is plentiful and therefore the cheaper it is to buy. So with a lower, dwindling home supply and the spigot turned down, the reverse is true. That’s when the local real estate environment favors sellers, because there are more buyers and it’s considered a ‘seller’s market.’ In that case, expect a short market time and an environment where homesellers receive multiple offers, often at or above listing price. If the supply of homes is higher, it’s considered a ‘buyer’s market.’ This means you can expect a longer market time, with homesellers seeing few, if any offers…and frequently for less than the asking price.  

 Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

Negotiation is Expected, But Most Aurora Homesellers Don’t Like ‘Armwrestling’ With Buyers

It’s routinely a good idea for buyers to get a ‘heads up’ before making an offer to determine how ‘hot’ or ‘cold’ the market is. Otherwise, if you ‘lowball’ a just-listed home in a seller’s market, you may be lucky to even get a counteroffer instead of an outright rejection by sellers experiencing lots of calls and showings on their property. Coming in with an offer that’s too low sometimes causes offended sellers to refuse to seriously consider a possible follow up offer.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

The Number of Competing Aurora, Oregon Homes for Sale Affects Market Time

What’s the Big Deal About Housing Inventory?
One reason housing inventory is so important is because it helps buyers and sellers to better manage expectations. Most buyers are interested in how long it may take to find the ‘right’ house. Inventory affects this. Alternatively, most sellers are interested in how long it may take to find a qualified buyer. Inventory affects this, too.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

Aurora, Oregon Homesellers Can ‘Jumpstart’ Activity With Accurate Pricing

That’s because a high home inventory tends to slow down the market time and low inventory frequently provides a ‘jump start’ to activity. One way sellers can help to avoid an excessively long market time is to review comparable local home sales information provided by their Realtor to ensure proper, market pricing.

Another reason housing inventory is crucial is because it can significantly impact so many other important factors. In other words, inventory is a ‘driver’ for market time, selling price, appraisal results, lendability and more.

Okay, So Inventory Is Important. What Does It Look Like?

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

Portland Metro Sample Home Inventory

The above image provides a good example of fluctuating home inventory. As our Aurora, Oregon real estate market bounced back from the severe market downturn of the Great Recession, home inventory reduced from more than twenty months of housing supply to less than three.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate

It’s Wise to Consult An Experienced Realtor Before You Leap Into the Market

Contact the Experts
Thinking about selling your Aurora, Oregon property? Know the market before diving in! Contact Certified Realty with your questions and for a free consultation on what your property could sell for today using the contact form below, or call (800) 637-1950.

Aurora, Oregon Real Estate: Steady

22 Mar

Fresh figures were just released on Oregon’s real estate market by the Regional Multiple Listing Service, or RMLS. To put the results in a nautical vernacular, we remain ‘steady as she goes.’

Woodburn, Woodburn Oregon, Woodburn OR, 97071, Woodburn Homes, Woodburn Real Estate, Woodburn Houses, Oregon WoodburnFor a helpful comparison, here’s a summary of our regional markets, including Portland, Salem and greater Aurora.

Portland Metro
Let’s begin with greater Portland, where our backlog of home supply is unchanged at 1.8 months.

Willamette Valley, Willamette Valley Real Estate, Oregon Real Estate, Willamette Valley Homes, Oregon Economy, Oregon Housing

This means greater Portland’s housing supply remains well below the oft-suggested ‘normal’ range of 3 to 6 months, especially when compared to years past. When the pipeline of homes is this low, it suggests we remain squarely in a ‘seller’s market.’

Willamette Valley, Willamette Valley Real Estate, Oregon Real Estate, Willamette Valley Homes, Oregon Economy, Oregon Housing

Along with housing inventory, home prices are another helpful indicator of market direction. The above chart is evidence of greater Portland’s sustained price growth, providing more confirmation of a ‘seller’s market.’ Most recent figures show an overall regional home price increase around greater Portland of 7.1%. 

marketaction

View the entire new free real estate report on your Portland area town or neighborhood by clicking here or on the Market Action image above.

Salem Metro

Willamette Valley, Willamette Valley Real Estate, Oregon Real Estate, Willamette Valley Homes, Oregon Economy, Oregon Housing

Greater Salem is also experiencing stable growth, as evidenced by little change in a relatively modest housing supply of 3.9 months as seen above, matched with an overall trend of increased home prices, seen below.

Willamette Valley, Willamette Valley Real Estate, Oregon Real Estate, Willamette Valley Homes, Oregon Economy, Oregon Housing

Most recent figures show an overall regional home price increase around greater Salem of 8.4%. Click here for the free latest complete Salem area real estate report, which includes Woodburn, or on the Market Action image below.

Oregon Real Estate, Willamette Valley, Willamette Valley Real Estate, Oregon Homes, Oregon Real Estate, Oregon PropertiesAurora, Oregon
Given our location between Salem and Portland, Aurora routinely experiences a mix of both markets. While figures specific to Aurora are sparse, the bottom line is that greater Marion County home values have risen a grand total of 7.8% over the past year.

Neighboring Community Comparisons
Greater Canby came in with an annual home price increase of 11.2% and neighboring Wilsonville saw a home price increase of 9.5% during that same period. As a result, Aurora and our region remains on an upward trend. Click here and view page two for specifics about the latest housing figures that include Aurora.
Woodburn Homes, Woodburn, Woodburn Oregon, Woodburn Homes For Sale, Woodburn Properties, Woodburn Real Estate, Woodburn Realty, Woodburn Oregon Realty, Woodburn Oregon Properties, Woodburn Oregon Homes, Woodburn Oregon Homes For SaleTime to Sell?
Thinking about selling your Aurora, Oregon property in this hot seller’s market? Whether you live in Aurora or somewhere else in Oregon, our AuroraOregon.com sponsor, Certified Realty can help with a free consultation, provide information on your Oregon property’s value, or answer questions about steps in the home selling process.

Willamette Valley, Willamette Valley Real Estate, Oregon Real Estate, Willamette Valley Homes, Oregon Economy, Oregon Housing

Contact Certified Realty using the convenient form below, or call (503) 682-1083 today for smooth sailing ahead!

Aurora View Home: Sold!

13 Jan Aurora Oregon, 97002

This now-sold Aurora, Oregon home is located minutes from Wilsonville in the desirable Kasel Court neighborhood.

15694581-7

Quality throughout this stunning Aurora, Oregon mountain view property!

15694581-11

Features include Mt. Hood views, a roomy deck off the kitchen, charming master bedroom deck, central vacuum system, convenient 10×23 covered patio, laundry chute, separate & private 9×12 plumbed office with heat and air conditioning, plus much more.

15694581-8

This attractive home was sold by the Aurora, Oregon real estate specialists at Certified Realty.

Flyer-Kasel-page-001-1-232x300

Click here to view the full color flyer for this lovely home.

15694581-3

For more information about buying or selling an Aurora, Oregon home, contact listing Realtors Bruce or Roy with Certified Realty at 503-682-1083, or use the convenient contact form below.

Aurora, Oregon Real Estate News

1 Oct Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate, 97002

A new, free report on Aurora, Oregon real estate is now available. 

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate, 97002

Click here or on the image above to view the complete report about Aurora, Oregon real estate.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate, 97002

Thinking of selling your Aurora, Oregon property? Contact our sponsor Certified Realty at 503-682-1083 for free information on what your property could sell for in today’s seller’s market.

A Tale of Two Auroras

14 Aug

New housing figures on our local real estate market were recently released. These stats include both hyper-local and also more regional numbers on things like area home prices, market time and inventory. This first report is from Ticor Title.

Aurora Oregon, 97002, Oregon Aurora, Aurora OR

Click to Enlarge

A ‘Mixed Bag’
Certain Aurora, Oregon housing figures are mixed, depending on where you live around Aurora. This is because part of the 97002 zip code is located in Marion County and the other part is Clackamas County. This is also essentially where the Portland and Salem markets meet. Depending on where an Aurora home is located can affect school districts and commute times. The good news is that Aurora, Oregon home prices are up, no matter which metric is used. 

Housing Inventory
Housing inventory can help determine how fast and how high a real estate market climbs. With fewer homes for sale, prices typically rise. With just 1.7 months of home inventory, the Clackamas County inventory figures for Aurora suggest a continued distinctly ‘seller’s market’ in that area of Aurora.

Aurora Oregon, 97002, Oregon Aurora, Aurora OR

Portland Metro Home Inventory – In Months

With 4.8 months of home inventory, the Marion County portion of Aurora remains within the normal range for a ‘balanced market,’ distinctly favoring neither buyers or sellers.

Aurora Oregon, Aurora Oregon Homes, Aurora Oregon Real Estate, Aurora Oregon Properties

Salem Metro Home Inventory – In Months

Click here for the latest housing information from the greater Portland metro report, which includes Clackamas County portions of Aurora. Click here for the latest housing information from the Salem metro report, which includes Marion County portions of Aurora.

Attention Aurora, Oregon Home Sellers
Thinking of selling? Prices are up and the market is good. For a free report on your property’s current value, contact the Aurora, Oregon experts and our sponsor, Certified Realty, using the convenient form below.

Aurora, Oregon Home Sales

17 Jul

Multiple listing records confirm five Aurora, Oregon home sales have occurred over the past thirty days.

Aurora Oregon, 97002, Oregon Aurora, Aurora OR
Recent Aurora, Oregon Property Sales – Click Map to Enlarge

Sold prices for these five properties range between $150,500 and $1,500,00. 

Thinking about selling your Aurora, Oregon property? Contact our sponsor, the Aurora specialists at Certified Realty, using the convenient contact form below for a FREE report on what your property could sell for in today’s market!