West Linn Real Estate Market – 2009 Final Statistics
Ron Ares February 24th, 2010
West Linn’s 2009 housing market statistics will be viewed as mixed at best.
The market moved more homes than 2008, but at a cost. Sales volume was up 20%, but median and average sale prices were 13% lower than those of 2008. The average homeowner that successfully sold a property suffered through nearly seven months on average waiting for a buyer.
Some other interesting statistics:
- Average and median prices were down 16 to 17% from peak prices in 2007. This is consistent with the Portland metro market in general.
- Around 25% of homes sold for more than $500,000.
- Only 10 homes sold for more than $1,000,000.
- The highest sale price was $3.2 million, discounted 46% from its original list price.
- Conventional financing made up 59% of the home sales, while 17% of loans were FHA and 14% of buyers paid all-cash.
This table compares 2009 home sales in West Linn versus those in 2008:
| 2009 | 2008 | % Change | |
| Total Units Sold | 389 | 325 | +20% |
| Average Sale Price | $428,400 | $493,100 | -13% |
| Median Sale Price | $380,000 | $437,900 | -13% |
| Total Days on Market | 202 | 158 | +28% |
The table below compares the 2009 values and the percentage change to the same period in 2008 for each housing type.
| Quantity
Sold |
Change
from 2008 |
Average
Sale Price |
Change
from 2008 |
$ per
sq. ft. |
Avg. Market
Time |
|
| Attached Homes | 22 | +69% | $249,200 | -3% | $120 | 222 days |
| Condominiums | 29 | +4% | $182,100 | -6% | $140 | 289 days |
| Single Family Homes | 338 | +19% | $461,100 | -14% | $163 | 201 days |
Source: RMLS statistics for January 1 – December 31, 2009 vs. same period in 2008. Every effort has been made to ensure accuracy. Average and median prices rounded to the nearest $100.
Related posts:
In more shocking news for West Linn Residents. http://finance.yahoo.com/news/GM-to-end-Hummer-after-sale-apf-4080154550.html?x=0&sec=topStories&pos=7&asset=&ccode=
Ah well, at least there’s still the Tahoe, Escalade, and Suburban to keep us going in those assaults on the Safeway parking lot speed bumps
Very funny Stuart
Hi Ron, thanks for putting this data together. I’m sure it’s a lot of work and we appreciate the effort you put into sharing this with us. Buyers clearly are in the dominant position, and I’m convinced that if they see value, they will buy. Sellers need to price their homes below other homes in the neighbordhood in order to have a serious shot at selling in less than 6 months. Hopefully 2010 will be the year we see an upturn in sales activity, shorter DOM and price stabilization.