Let’s review the acreage 2011 real estate market….
Last year proved to be one of the worst years on record for the acreage real estate market around Salem and Keizer Oregon. While there was a seasonal improvement in the summer months, the median sales price continued to decline as the year progressed. For example, the median sales price was $320,925 in May, but only $297,500 in December. The average market time for the year was 6 months, but interestingly enough, the market time increased to as much as 263 days in September. This was most likely due to most home owners putting their property up for sale in the late spring, flooding the market. The inventory was just too high compared to the number of qualified buyers.
With only 107 acreage homes in Salem and Keizer Oregon actually selling in 2011, 291 home sellers had a 36.77% chance of selling their property. If you need to sell your acreage property this year, let’s talk! I can suggest several ways to increase your odds of selling this year.