A recently released housing report reveals local home prices have increased by an average of more than 1% per month over the past year.
The new report from RMLS (Regional Multiple Listing Service) shows a 12.6% increase in home values throughout Yamhill County.
Average Home Price & Market Time
The current average selling price for a home for our area is now $241,100. The average time on the market is 166 days.
Low Housing Inventory Helps Values
Regional real estate prices continue their overall upward trend due in part to a lower than usual supply of homes. With buyers chasing a smaller number of available properties, basic supply and demand principles create a ‘seller’s market’ in our area. At the current rate of home sales, our region would now be ‘out of homes’ in just 3.2 months, a historically low figure.
Read The Free Report
View or download the free report on our local real estate market by clicking here or on the market action image below. Make sure to check out page 2 in this regional report for current real estate information on your county, town or neighborhood.
Contact The Experts
Thinking of buying or selling a Newberg area home? For a FREE consultation to discuss our market and your options, please contact our sponsor, Oregon’s Certified Realty today using the convenient contact form below.