Lower inventory numbers favored sellers but with proper Broker guidance, buyers were still able to navigate these challenging markets; closed units for Q3 2020 realized a slight 1% gain.
DAYS ON MARKET
The markets chilled as autumn approached; average days on market across the region increased 11% from year-ago figures to 42 days. Roseburg picked up speed, dropping 18% to an average of 46 days this quarter. Garibaldi’s market noticeably slowed by 336% when compared with year-ago figures to an average of 122 days. Days on market in Tillamook County also decelerated from year-ago figures, increasing 667% to 138 days.
Closed transactions for the third quarter of 2020 (2,237) inched up 1%. With a 17% year-over-year rise, Florence posted noticeable gains, finishing Q3 2020 at 152 closed units.
AVERAGE SALES PRICE
Comparing Q3 2020 to Q3 2019, average sales price recorded a 12% increase, growing from $313,382 to $351,561. At $415,828, Corvallis boasted the highest prices for the region (a 9% year-over-year increase). Prices in Garibaldi also significantly trended up, rising 58% this quarter to an average of $283,833.
NEW LISTINGS, ACTIVE LISTINGS, AND PENDING SALES
Inventory dwindled this quarter; new listings were down 7% to 2,387. Active listings didn’t fare better, dropping 15% from year-ago figures to end Q3 2020 at 3,577.