January 2017 Salem Real Estate NEWS

Listings are still down..-19% from last year

January 2017 Real Estate News: In one word HOT for Sellers NOT so much for Buyers. there were 866 new listings that came on the market and a total of 2519 listings available. In the month of January 2016 there were 985 new listings that came on the market and a total of 3121 on the market. That is a 19% decrease in listings available this year over last year at the same time.

Inventory level 3.2 months of inventory

In January 2017, there were 768 closed sales. With that number of closed sales we have approximately 3.2 months of inventory on the market.

Days on Market

When you figure an escrow is typically 45 days you are seeing homes go Pending really quickly.

Salem/Keizer: 105

Marion County: 108

Polk County 115

Benton County: 124

Linn County: 117

Obviously NOW is a great time to list your home.

Closed Sales in Units for the last 5 years

Through the end of January 2013: 512

Through the end of January 2014: 423

Through the end of January 2015: 487

Through the end of January 2016: 656

Through the end of January 2017: 768

The sales price to list price is running 95.7%.  So if you list your home for $100,000 it’s likely to sell for $95,700.  We are still multiple offers in some price categories.  $200k to $300k is a battle for buyers.  If you want to see what is available in a few price ranges check the links below.

Search homes listed in Salem from $100,000 to $150,000

Search homes listed in Salem from $150,000 to $200,000

Search all homes listed in Salem HERE

data sourced from Willamette Valley Multiple Listing Service (WVMLS)

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