West Linn Real Estate Market Results - April 2008
Ron Ares May 20th, 2008
April won’t go down as a banner month for real estate in West Linn, but the trends mirror much of the south suburban market in the Portland area. The 97068 zip code sold 28 condo, attached, and single-family homes in April, down from 50 homes in April 2007. On the plus side, nearly 60 homes are sale pending.
Buyers have access to nearly 460 active listings, so there’s plenty for the pickin’. Final sale prices are 90% of their original listing price, so sellers are becoming more elastic on their expectations.
Following is a breakdown of property types by average sale prices, market time, and size:
WEST LINN MARKET ACTIVITY - APRIL, 2008
| PROPERTY TYPE |
QUANTITY SOLD
|
AVG SALE PRICE
|
AVG SQ. FT.
|
SALE PRICE VS. ORIG. LIST PRICE
|
AVG MARKET TIME*
|
| Condominiums |
4
|
$173,225
|
1,048
|
91%
|
89
|
| Attached Homes |
1
|
$217,000
|
1,421
|
80%
|
79
|
| Single Family Detached Homes |
23
|
$468,732
|
2,571
|
90%
|
107
|
| SUMMARY |
28
|
$417,526
|
2,312
|
90%
|
103
|
* Market time or Days on Market (DOM) refers to the number of days between the time the listing becomes active in the multiple listing service and the date of when an offer has been accepted by the seller.
Data courtesy of RMLS.
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