Every year we post a summary of annual activity pre-spring for your consideration. Seaside Oregon real estate market numbers, like the entire north coast, were extraordinary last year. This year we expect pressure will continue at an all time high. We will provide the results graphed for clarity below but needless to say it was and remains a Sellers Market.
Seaside like Gearhart is under intense buyer pressure and the Sold to List Prices were in many cases over 100%. Here are the high points.
The Absorption Rate in Seaside is low. The Absorption Rate is the how long the current inventory will last at the current rate of sales and it's down -61.56% to 1.63 months inventory from 4.24 months supply average in 2020. Buyers are putting heavy pressure on the Seaside market. For reference, most absorption rates under 6 months are Sellers territory.
The Average List Price was way up by 21.22 percent. This is a very different result from neighboring Gearhart. In Gearhart the high end held pat and mostly stayed off market while in Seaside many owners with homes over average value in town took advantage of the all time pressure and listed to make some solid gains.
The Sold to List Ratio gained and briefly spiked over 100% in the fall but looks headed into the mid 90% range. That would be pretty typical for Seaside on both sides of the highway and downtown.
The Average Days on Market dropped from around 93 to 62 or about 50% on average. However, market pressure really varied and was not necessarily in line with inventory.
Unfortunately for buyers, the number of active homes on the market year over year are down -54.8% from this time last year. While spring usually shows improvement here, we will have to wait and see. All bets are off.
If you are looking for a home in Seaside, one thing is clear, you need quality representation and immediate real time notification of any property that comes to market, which we can provide as an alert. Call us and let us assist you. We’re here to make your Home by the Sea a reality. Call us for at an appointment at our Gearhart Office.
Ready to list and take advantage of this strong 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 and we would like to work for you. Home + Sea Team, Cascade Sotheby’s International Realty. All we sell are homes by the sea.
