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 Nehalem, 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 Nehalem 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 Nehalem last year was 35 vs 27 or down -22% this year. New listings were down -24%. Remember there is almost always carry over from prior years.
In terms of Numbers Sold we saw a decrease from 27 to 26 single family homes. A -3% decrease.
The Absorption Rate in Nehalem which is the how long the current inventory will last at the current rate of sales is down -66.42% to .46 months from 1.37 months supply in January 2020. Buyers are on the search.
Prices have increased with the Average Sales Price up from 320K to 363K. An increase of 13%.
The Average List Price was down surprisingly on average 1.92% as well. Not as many quality homes came to market in Nehalem this year and a few brokers failed to price right leaving money on the table in more than a few cases.
The Sold to List Ratio climbed and in Nehalem for the year and with a 4% increasing to 98%. Which is still respectable, but could have been better!
The Average Days on the Market were also way down to about 73 days. This is quite low for Nehalem overall historically.
Unfortunately for buyers, the number of Active Homes on the Market year over year has also been squeezed down -24% 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 Nehalem, 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 Home + Sea Team at Cascade Sotheby’s International Realty.