Oregon Coast Real Estate Market Reports

Nehalem home sales prices soared again this year.  The number of homes on the market was down 25% from last year with only 21 coming to market and sales were down 12% from the prior year with 21 homes sold.  A low inventory situation.  The list price to sales price ratio was up this year to 101% in Nehalem.  Competitive bidding was incredible.  Days on the market were lower yet again, 27% lower, to an average of 60 days from listing to close.  Our market in Nehalem is under immense pressure.  See the graph below:

Record Gains

In Nehalem for the 2021 season we saw a reduced number of homes come to market on the back of a record low inventory during 2020.  With that, prices spiked for a record increase in sold property values.  Up 29% from last year. …

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In Neahkahnie news the number of homes on the market was even with a 0% change in homes coming to market.  Sales were also even, a 0% change from the prior year with 9 homes sold.  However the list price to sales price ratio was 108% in Neahkahnie.  Competitive bidding was incredible.  Two homes went for 140% of list in MZ for example and it was not uncommon for us to get over 10 bids on a home.  Days on the market were lower yet again, 36% lower, to an average of 47 days from listing to close.  Neahkahnie, like Manzanita saw amazing pressure on listed homes.

 

It was an incredible jump in average sales price.  Nearly the largest on the coast.  Neahkahnie has come of age.

Record Gains

In Neahkahnie for the 2021 we saw an even number of…

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It seems like I just drafted a report for Spring 2021 and time is flying by.  Real estate pressure last year was intense and non-stop, but I have to say it felt like a simpler time.  So much has happened to our market since then.  While we were trending heavily in 2020/21 with higher home values, lower inventory and endless competitive bidding over homes, we thought that perhaps the pressure would ease and we could all take a breather.  That was not to be.  More on that below.

In personal news Meadow was the number one broker in Manzanita, Neahkahnie and Nehalem once again.  A great achievement in performance and consistency for over a decade.  She makes us proud.  Our daughter Cosma decided to join the Home + Sea Team this summer selling her first…

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