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Predict Your Real Estate Market | Tool from CNN/Money
Here’s a tool from CNN/Money to predict the change in various real estate markets.
Corvallis, OR Metropolitan Statistical Area:
- Forecast change: second quarter, 2011 – second quarter, 2012 +3%
- Forecast change: second quarter, 2012 – second quarter, 2013 +9.9%
This tool tracks 384 markets. It will be interesting to see what actually happens.
Track a market near you: Home Price Data on 384 Markets
Improving Housing Markets | May 2012
Corvallis, Oregon ranked 73rd in improving housing markets index.
According to the National Association of Home Builders/First American Improving Markets Index (IMI), released 5/7/2012 Corvallis, Oregon is listed as one of the housing markets showing measurable and sustained improvement.
The index takes into uses three independent montly data factors – employment growth (Census), house price growth (Freddie Mac) and single-family housing growth (Census) to identify the top improving markets.
Cities in the Northwest include:
- Bend, OR (newly added and ranked 72)
- Corvallis, OR (73)
- Portland, OR (74)
View the full report: NAHB/First American Improving Markets Index (IMI)
New Listing–Home for Sale |1620 NW Menlo Drive, Corvallis, Oregon 97330 $320,000
Just Listed: Corvallis Single Level Home
Wonderful single level living with beautiful architectural details. Charming curb appeal with spacious landscaped yard, brick façade greet you as you pull into the wide curved driveway. 3 bedrooms, 2, baths, den/office, ±2015 sq. ft., Attached 2-car garage
Covered entry with double doors and wide front porch provide no-step access to the entry of this home. As you enter you will delight in the art niches, open main living areas and the view of the main living area into the beautiful backyard.
The living room is spacious and light with vaulted ceilings and open wood beam work. Beautiful wood floors, walls of windows with backyard views, built-in birch bookcase, and gas fireplace with brick surround. Open floor plan flows from dining room to kitchen to living room and into the backyard, creating the optimal space for year-round entertaining. Light wood cabinetry and beautiful hardwood floors throughout. Large windows and access to backyard, brings the outdoors in.
Just off the kitchen is a bonus room that is great for an office, tv room, crafts, home gym, play or to suit your needs. Indoor laundry and access to the 2-car attached garage are through the bonus room.
The Master Suite is comfortable and luxurious with carpeted flooring and access to the backyard. The attached bath is wheelchair accessible with tile flooring and a curb-less tile shower and walk-in closet.
Two secondary bedrooms provide great spaces for guests, family or provide space for exercise, extra office, crafts or other uses as needed, they are carpeted and each have ample closet space.
The laundry room is located between the den/office area and the oversized 2-car garage. The garage is vaulted and has broad expanses of windows that provide natural light. The double wide, nearly new wood garage door is a natural accent to the front of the home.
Interior flows naturally to outside spaces, creating an ideal setting for entertaining and play. Extensive patio space, covered and uncovered is accessible from many interior spaces. Fenced back yard, extensive lawn and planting areas, a south exposure and the irrigation well are a delightful and rare opportunity.
Conveniently close to everything. Just a few blocks from Garfield and Porter Parks, Garfield Elementary, Linus Pauling Middle, Corvallis High School, Osborne Aquatic Center, Corvallis Boys and Girls Club, and Local Shopping Areas. Just minutes from downtown Corvallis, Oregon State University, and medical facilities.
Highlights:
- Recently installed Maytag gas range
- Updated windows in many areas
- Display cabinets
- Extensive use of natural wood and wood flooring
- Generous amount of storage throughout
- Water source heat pump-source irrigation well
- Large back yard with south exposure
- Covered and open patio area
- Extensive lawn and ornamental planting areas
- Raised garden beds
- Fenced back yard
- .35 acre lot
- Irrigation wll
- Water source heat pump (Water furnace)
- Year built:1960
- Approx 2.1 miles to Oregon State University (Memorial Union)
- Approx 1.8 miles to Corvallis, Oregon City Center (Central Park)
- Schools: Garfield Elementary, Linus Pauling Middle, Corvallis High
- MLS# : TBA
For more information or a personal tour of the this home: Contact Dava
Annual Number of Residential Real Estate Sales | Corvallis, Oregon
History of home sales volume — Number of transaction in the Corvallis, Oregon
The Number of Sales in the Corvallis, Oregon residential real estate market is down approximately 36% from the peak number of transactions in 2005. But, it should be noted that 2011 showed an gain of 27 transactions. It seems apparent that there is a slow but steady return to “normal” in terms of numbers of transactions.
(click on graph for larger view)
| Corvallis | |
| Year | Units Sold |
| 2000 | 546 |
| 2001 | 635 |
| 2002 | 658 |
| 2003 | 674 |
| 2004 | 679 |
| 2005 | 779 |
| 2006 | 772 |
| 2007 | 651 |
| 2008 | 501 |
| 2009 | 464 |
| 2010 | 469 |
| 2011 | 496 |
It should be noted that the relative fewer number of sales has a larger influence on aveage sales price due to the limited statistical data pool available.
related post: Corvallis Oregon, Avereage Sales Price History
Source of data Willamette Valley Multiple Lising Service (WVMLS)
Corvallis Real Estate | Average Sales Price History
Average sales price history and comparison as of year end from 2000 through 2011.
Data includes residential type properties (including residential with acreage) for Corvallis, Oregon.
(click on graph for a larger view)
| Corvallis | |
| Year | Avg Sales Price |
| 2000 | $177,939 |
| 2001 | $190,321 |
| 2002 | $188,330 |
| 2003 | $208,275 |
| 2004 | $236,155 |
| 2005 | $251,359 |
| 2006 | $291,958 |
| 2007 | $305,483 |
| 2008 | $301,363 |
| 2009 | $281,707 |
| 2010 | $279,284 |
| 2011 | $272,966 |
It is interesting to note that the Corvallis real estate market has held much better than most other markets through-out the country and even nearby communities in Oregon.
From the “peak” until the end of 2011 there is only about a 10.6% reduction in average sales price. It should be noted that “averages” cannot be directly applied to individual properties as there are many factors that influence value and market-ablity. Additionally, the average is also influenced by the number of sales in various price tiers (fewer sales in the upper price tiers and more sales in the lower price tiers will create a lower average).
Related Links: Corvallis Sales Volume, residential real estate sales history
Source of data Willamette Valley Multiple Lising Service (WVMLS)
Equal Housing Opportunity. Each Office Is Independently Owned and Operated.