County records confirm a property sale earlier this year of venerable and valuable Aurora, Oregon acreage. Formerly owned by local charity Beyond the Reef Theological Center, the property is located just east of the Aurora State Airport at 22515 Airport Road NE, Aurora, Oregon.
A public records search indicates the sale involved two adjacent lots of 11.42 acres and 5.12 acres, closing in May, 2015. The selling price was $2,150,000 with the purchaser named as TLM Holdings, LLC. Ted Millar is named as a manager. Public records also indicate Ted Millar is involved with locally owned Southend Air Park and Westwood Development.
Approximate Property Location in Red
State corporation documents show the earliest registry date for the organization named Beyond the Reef Theological Center as February, 1977. Since that date, their Aurora location was used as a meeting place for the faith-based organization, which included housing and a worship center, Missionary Memorial Church.
Beyond the Reef Theological Center has underscored their calling as a non-profit organization based in Aurora, Oregon, with a mission for ministry to Micronesians who live in the Pacific Northwest and on Pacific islands.
Because of Aurora’s relatively small size, current, reliable and detailed information on our local housing market is highly valued. Given Aurora’s equidistant location between Portland and Salem, when assessing Aurora local real estate it’s helpful to understand figures from both of those significantly larger markets.
Another reason it helps to view reports from both Salem and Portland markets is because while the town of Aurora itself is located inside Marion County, a large geographic portion of Aurora is actually within Clackamas County. This ‘spread out’ effect accounts for a large mixed swath of suburban and rural areas.
Aurora home values comprise a mix between those of Portland and Salem. In general, home prices are higher and market times are shorter around greater Portland, compared with Salem. The report that follows shows how both of these markets that straddle Aurora are on the upswing, in terms of home values and reduced housing inventory. The net effect is a strengthening for Aurora, Oregon real estate.
Portland Metro Real Estate New housing figures for both greater Portland and Salem confirm a sustained strong Oregon real estate market. Particularly noteworthy as we approach Winter is our already low yet still shrinking housing supply, especially compared to years past. Below is a recent inventory table for greater Portland, shown in months of housing backlog.
Portland Metro Home Inventory
Inventory A Key Factor Two key factors illustrate how housing remains one of Oregon’s more economically attractive sectors. These include home inventory and home prices. Portland’s current inventory of homes is down to 1.8 months of supply, a continuation of greater Portland’s sub-two month housing backlog since early Spring.
Portland Metro Home Price Chart – Click Image For Latest Complete Report
Salem Metro Real Estate Salem area real estate is not quite as strong as Portland, but definitely strengthening. Witness the nearly 25% drop in home inventory over the past month alone. This brings greater Salem into a marginal seller’s market and may foreshadow even lower inventories ahead.
Salem Metro Home Price Chart – Click Image For Complete Latest Report
The Bottom Line Barring unpredictable forces like significantly higher mortgage interest rates or a jump in regional unemployment, Aurora, Oregon real estate is poised to continue moving upward, with moderate home price increases likely to follow for the short to mid-term.
Thinking About Selling? A great time to consider selling is now, while our Aurora, Oregon real estate market is strong. For a free report on what your property could sell for, Contact Certified Realty, our AuroraOregon.com sponsor, using the convenient contact form below.
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.
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.
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.
Portland Metro Home Inventory – In Months
With 4.8 months of home inventory,the Marion County portion of Auroraremains within the normal range for a ‘balanced market,’ distinctly favoring neither buyers or sellers.
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.
Multiple listing records confirm five Aurora, Oregon home sales have occurred over the past thirty days.
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!
New figures on our local Aurora, Oregon real estate market were released by Ticor Title Company. This new data includes helpful information like median home list price, average days on market and the percent of homes with a price reduction.
Contact our sponsor, Certified Realty using the form below for a free report on what your Aurora, Oregon property could sell for in today’s rising market.
Aurora, Oregon 