First Half 2007 Results for West Linn Real Estate Market
Ron Ares July 11th, 2007
Regular readers of move2westlinn.com get weekly real estate activity reports, but today, it’s time for a half-year analysis of the West Linn housing market.
In brief, prices are up, but sales are down (20%, go figure!), and it’s taking longer to sell than last year. These results are comparable to the Portland metro area in general.
Total homes sold in West Linn for the first half of the year ended up at 278 (vs. 336 last year). The average sale price for all homes was $512,310, up from $467,116 last year–roughly a 10% increase. Homes are taking on average 25 days longer to sell in 2007 than in 2006 (69 days vs. 44 days).
Below is a breakdown of the totals and averages by property type. Results are tabulated between January 1 and June 30, 2007:
| Number | Avg. Sale Price | Avg. Sq. Ft. | Avg. DOM | |
| Single-family Detached |
66
|
$569,743
|
2,826
|
66
|
| Condominiums |
33
|
$205,693
|
1,165
|
103
|
| Attached Homes |
15
|
$321,866
|
1,811
|
39
|
| Manufactured Homes |
2
|
$452,500
|
2,536
|
57
|
| AVERAGES |
278
|
$512,310
|
2,572
|
69
|
Source: RMLS. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer.
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