This has been an incredible year in real estate for the North Oregon Coast. Every year we post a summary of activity pre-spring for your consideration. This year in Astoria, there was a lot of action. We will provide the results graphed for clarity below but the sold to list numbers really tell all. For our report purposes, the real estate data for Astoria is as follows.
Last Year : 2/27/19 - 2/27/20
This Year : 2/27/20 - 2/27/21
Here are the high points.
The Number of Active Listings in Astoria last year was 244 vs 223 or down 8% this year. New listings were down 11%. Remember there is always carry over from prior years.
In terms of Numbers Sold we saw an increase from 164 to 195 single family homes. A 16% increase.
The Absorption Rate in Astoria which is the how long the current inventory will last at the current rate of sales is down -74.33% to .77 months from 3 months supply in January 2020. Buyers are on the search.
Prices have increased with the Average Sales Price up from 332K to 377K. An increase of 13%
The Average List Price was up a whopping +53.96% as well. This means that not only are the number of homes that came to market going fast but sellers took advantage and many higher quality homes came to market.
The Sold to List Ratio climbed and in Astoria for the year and with a 2% increase to 99%.
The Average Days on the Market were also way down, -24% from 150 days to 114 days.
Unfortunately for buyers, the number of Active Homes on the Market year over year has also been squeezed down -71.6% from this time last year.
It’s a Sellers Market and looks to continue that way for the spring listing season in 2021.
If you are looking for a home in Astoria, you need quality representation and immediate real time notification of any property that comes to market, which we can provide as an instant alert. Call us and let us assist you. We’re here to make your Home by the Sea a reality.
Ready to list and take advantage of this unprecedented sellers market? Call us. We’re the top North Coast team. Even though it’s a sellers market, we provide full service interior, exterior and aerial video and photography as well as top online placement and distribution to market your home. We’re here to help you realize your maximum financial potential. We’re the top North Coast listing team. Home + Sea Team, Cascade Sotheby’s International Realty.