Over the last 90 days, the median sales price for a home in Corvallis was $575,000 which included a high of $1,700,000 and a low of $251,100. Asking prices for houses on the market range from $3,399,999 to $225,000 making the average asking price $698,603. During the last three months, 227 houses have sold and 74 of those are still pending. There are currently 57 active listings in Corvallis, leaving three-quarters of a month’s inventory currently available.
In Albany, the median sales price has been $430,000 with a high of $1,380,000 and a low of $130,000. Asking prices for active listings in Albany range from $1,995,000 to $245,000 for an average asking price of $500,522. During the last three months, 237 houses have sold and 138 of those are still pending. There are 92 active listings in Albany, leaving just over one-half of a month’s worth of inventory currently available.
Lebanon houses have been selling for a median price of $370,000 with a high sales price of $974,249 and a low sales price of $160,000. Asking prices for active Lebanon real estate range from $2,800,000 to $259,000 for an average asking price of $625,304. During the last three months, 126 houses have sold and 37 of those are still pending. There are currently 73 homes on the market in Lebanon for nearly two months’ worth of inventory.
What our real estate expert, Samantha Alley from RE/MAX, has to say about the market:
“Fall has arrived, with crisp cool morning and a refreshing rain that perked up the landscaping through-out the mid valley. The number of sales stayed very steady with the Albany market showing the exact same number of sold properties over the last 90 days that it did in the previous 90 days, Corvallis was down 2.2% while Lebanon went up 6.8%.
“Fewer houses came on the market in the last 30 days for both Corvallis and Albany, resulting in a decrease in the months of inventory available in both those markets. Lebanon has 14 additional houses on the market this month over last month with 73 showing. Even with the increase in sales this caused the months of inventory to go up to 1.74 months. As we head toward winter we should see longer market times and a decrease in the number of sales each month, that is a completely normal shift that happens each year.
“Interest rates jumped again in September and that could cause a larger impact. So far we are seeing it drive buyers into the market, so that they can secure a home and rate ahead of additional increases.”
By Sally K Lehman
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