Education Proves Useful When Buying and Selling on the Coast

One of my goals as a Real Estate Broker is to make certain my clients are well educated. I believe it is important to have a clear understanding of the current (local) market if you intend to make good, educated decisions when it comes time to buy and/or sell -- even if that decision is not to buy, or not to sell.

The stats below are based on data available to me from the Tillamook County MLS. I used Oceanside specifically because it paints a very precise picture of the decline since 2007 and slight recovery so far in 2011.

Average sales price of homes in Oceanside
2007: $556,000
2008: $429,000
2009: $336,000
2010: $286,000
2011: $410,000 (as of July)

Average price per square foot on homes sold in Oceanside
2007: $370
2008: $252
2009: $192
2010: $192
2011: $200 (as of July)

Average square footage of homes sold in Oceanside
2007: 1,500 SQFT
2008: 1,702 SQFT
2009: 1,750 SQFT
2010: 1,490 SQFT
2011: 2,050 SQFT (as of July)

Number of homes sold in Oceanside
2007: 21
2008: 18
2009: 18
2010: 21
2011: 10 (as of July)

It is interesting the volume of homes sold year to year has remained stable, though average sales price has declined by 27% (as of July 2011.) Notice the decline reached 50% in 2010! Buyers were spending less money and clearly getting more house. I see a slight recovery in this data where the average price per square increased to $200 after two consistent years of $192/SQFT.

It will be interesting to see what the remainder of 2011 brings. I will keep a close watch on this data and pass along the results to you when available. I still say it is time to buy. If you have ever wanted a home on the Oregon Coast our prices are scraping the bottom -- And, sales prices remain negotiable. If you would like more information about the current market call or email me anytime. I am always happy to help!