10/22/2009- Gearhart, Oregon Real Estate Market Stats:
- Gearhart Homes for Sale: 72 (-2)
- Gearhart Res. Lots & Land for Sale: 50 (-4)
- Gearhart Condo/Townhouse for Sale: 12
- Pending Gearhart Homes: 5 (-1)
- Pending Gearhart Lots & Land: 7 (+2)
- Pending Gearhart Condo/Townhouse: 1
- Gearhart Sold Properties for the 09/12/09- 10/15/09: 5 (-1)
For comparison purposes, differences indicated by (*) are compared to about a month ago.
10/22/2009- Seaside, Oregon Real Estate Market Stats:
- Seaside Homes for Sale: 124 (-8)
- Seaside Res. Lots & Land for Sale: 81 (-6)
- Seaside Condo/Townhouse for Sale: 67 (-4)
- Pending Seaside Homes: 25 (+4)
- Seaside Seaside Lots & Land: 4 (+2)
- Pending Seaside Condo/Townhouse: 2 (-2)
- Seaside Sold Properties for the week 09/12/09- 10/15/09: 10 (-7)
For comparison purposes, differences indicated by (*) are compared to about a month ago.
source: Clatsop MLS. Data deemed reliable but not guaranteed accurate.
I love charts and data so lets look at the market trends in Gearhart and Seaside compared to Clatsop County as a whole:
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- Gearhart, Oregon Market Trends
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- Seaside Oregon Market Trends
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- Clatsop County Market Trends
The blue line on the chart represents the active inventory, and the red represents the pending inventory. The common theme in both Gearhart & Seaside and the county as a whole is declining inventory. This is due to both an increased sales rate and listings come off the market unsold. That trend is certainly positive for the market, as the simple ’supply and demand’ applies to our real estate market. The less inventory, the greater demand for the remaining homes available. This doesn’t directly translate to increased prices however. Until we see a slow down in REO inventory and increased lending volume the upward pressure on pricing won’t materialize. The pending inventory is an indicator of future market trends in some ways, a heavily increasing pending rate would indicate the market is flattening out for example. We’re not seeing a increases in pending inventory across the board, but overall the number remains stable and is increasing in certain areas in the county. Seaside is a pleasant surprise in all this, the chart is a perfect indicator of what we’d like to see everywhere. When those lines get closer and closer to each other, supply is decreasing and demand is increasing leading toward a balanced market. We’re still a long ways from that, but heading in the right direction currently.