Every year we post a summary of activity, pre-spring, for your consideration. Neahkahnie real estate this year was right in line with the other top performing markets like Manzanita, and West Gearhart. In Neahkahnie, competition was steep for any home at nearly any price with the exception of one (that has been mysteriously pending since last December and we’re told they are fishing for a back up offer). Call us if you're interested in that.
We will provide market results graphed for clarity below. For our report purposes, the real estate data for Neahkahnie is as follows.
Last Year : 2/27/19 - 2/27/20
This Year : 2/27/20 - 2/27/21
The Number of reported Active Listings in Neahkahnie last year was 19 vs 10 or down -47% year. New listings this year were down -35% to 9. Remember there are nearly always carry over from prior years.
In terms of Numbers Sold we saw a decrease from 16 to 9 single family homes. A -43% decrease. However, like Manzanita this year, top brokers in the know have quite a few off market sales. For example, we can add nearly 3 million alone to that number but we're working with MLS reported figures here. And just as an aside, we received a record 8 offers on one property and no less than 4 on any MLS published listing. That’s a lot of paper.
The Absorption Rate in Neahkahnie which is the how long the current inventory will last at the current rate of sales is down 100% to 0 months inventory from a peak of 7 months supply in August 2020. With so few homes total though that is a bit misleading (see the graph). It’s been 2.9% more or less on average. That said, buyers are circling Neahkahnie for single family homes.
Prices have increased with the Average Sales Price of 928K. Frankly, we know it is a bit higher but are working with MLS numbers here.
The Average List Price data is also skewed in MLS reporting due to both over priced listings that have not closed and off market sales that would bring the reported numbers up. Not only did the number of homes that came to market go relatively fast but sellers took advantage and a few better quality homes did come to market.
The Sold to List Ratio climbed in Neahkahnie for the year. This is asking vs sold price. The increase is the second highest in North Coast communities (after Manzanita) and we estimate it at about 107%. This is due to brokers correctly pricing Neahkahnie properties sparking bidding wars and using the market to the clients advantage in most but not all cases. If pended homes sell for less than list, that will bring this number down. Time will tell.
The Average Days on the Market for the year are a bit vague to plot (see graph) but we feel it is essentially 30 days or roughly the time it takes after publishing list to show, take offers and negotiate an accepted pending status.
Unfortunately for buyers, the number of Active Homes on the Market is down to 0 for 4 months running less the pending home. Will it come back? Inquiring minds want to know!
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 Neahkahnie, 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. We provide full service interior, exterior and aerial video and photography as well as top online placement and distribution to market your home in the luxury market. We’re here to help you realize your maximum financial potential. We’re the Home + Sea Team at Cascade Sotheby’s International Realty. 
