Although it feels like a recovery of the real estate market in Corvallis, Oregon and the market is strong; overall, fewer transactions are taking place.
4.5% fewer homes sold in the 12 month period ending November 2014 as compared to the same time frame in 2013. Average sale price is up only 2%. Average price per square foot is flat at $157/sq.ft. for November 2014, it was $156/sq.ft. in November 2013. The real story is in lack of inventory. Last year at the end of November there were 165 active properties on the market; this year only 131 a significant drop of 20%. Lack of inventory is likely what is holding volume of sales and prices at bay. Days on market is fairly static with only a 5 day average change.
Source
Data compiled using information from the Willamette Valley Multiple Listing Service.
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