West Linn Market Activity - Q3 2007
Ron Ares October 19th, 2007
As the calendar heads into the final quarter of the year, we take a quick look at the state of West Linn’s real estate market.
Year-to-date total and averages are in line with other Portland-metro communities when comparing to Q1-Q3 of 2006. Total number of sales are down 17%, yet average sale prices are up 7.3%. On average, it is taking about 20 days longer to sell a home in West Linn than last year.
I noticed that average pricing in the third quarter did not appreciably rise from result of Q2, highlighting the metro market’s general slowdown in appreciation through 2007.
The average single family home in West Linn will set you back nearly $570,000 (although the median value is $460,000) and run about 2,800 square feet.
Below is a breakdown of the totals and averages for closed sales by property type. Results are tabulated between January 1 and September 30, 2007:
| Number | Avg. Sale Price | Avg. Sq. Ft. | Avg. DOM | |
| Single-family Detached |
339
|
$569,768
|
2,805
|
62
|
| Condominiums |
53
|
$201,694
|
1,131
|
94
|
| Attached Homes |
15
|
$321,866
|
1,811
|
39
|
| AVERAGES |
$511,870
|
2,550
|
65
|
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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