The home truth for Dallas Oregon: End of year 2016
- Median home prices were up 2.8% to $231,000
- Home sales were up 16.3%
- Days on the market decreased 12.4% to 92
- Current inventory is 3.76 months
- Market favors: sellers
This information was crunched from data provided by the WVMLS for acreage and non-acreage properties.
The home truth snippet: Dallas end of year 2015
- Median home prices were up 16.8% to $205,000
- Home sales were up 14.8%
- Days on the market increased 7% to 107 days
- Current inventory is 5.64 months
- Market favors: neither buyer nor seller. Neutral market
Like many markets, Dallas new construction did well last year and home sales were good. Home prices and days on the market increased but that was mostly fueled by new construction. There was some evidence of seller overconfidence in the Dallas market last year as some homes lingered on the market for a bit.
Dallas Home Truth Snippet 2014 over 2013
- Median home prices were up 6.2% over 2013 to $176,000.
- Home sales were up 13% over 2013.
- Days on the market were down 16.7% to 130 average days.
- Current inventory is 3.4 months
- Market favors: Strong sellers market.
Due to the incredible affordability of Dallas homes in the Salem metro area, the market is very strong for sellers trying to sell. While home prices increased in Dallas the increase was much lower than other metro cities keeping Dallas affordable.
Dallas Home Truth Report mid-year 2012
- Median home prices: up 6.8%
- Home sales: Up 1.5%
- Inventory: 10.3 months
- Market favors: Buyers,strongly
2010 Year End Report
During the boom the new construction out in Dallas was happening at a rapid rate. With flat cheap land, which is much easier to build on than our south Salem hills, building boomed out here. You know the end of this story.
Dallas has had one of the most dramatic price drops of the metro cities. With a 16.6% drop in the average home price and a 15.1% shift downward in the median, buyers are making it clear they want inexpensive homes only. Just for the curious, Dallas is at 2004 home price averages at the end of 2010.
One of the ongoing problems for Dallas is the increase in foreclosures. Unlike Silverton, which had a nice drop in foreclosure notices, Dallas’ notice of defaults increased by 20%. This means longer prolonged problems for the recovery of the Dallas real estate market and it will be past 2012, at least before this market can start to work through these excessive foreclosures.
Despite the huge average home price drop in Dallas Oregon, home sales were down 18.6%. With the good foreclosure deals in Salem-Keizer, I think home buyers that normally would have purchased out in Dallas due to affordability are able to purchase in Salem proper as you can get some foreclosures for Dallas Oregon prices. The Dallas real estate market continues to get hammered. With this huge plunge in home prices in 2010, honestly, I would be stunned if there was another large correction like that. I would expect it to continue to decline but at a more moderate pace like 2-5%. If you want to search for homes for sale in Dallas, you can view foreclosures, or all Dallas homes for sale, on my website. Data was crunched with information provided by the WVMLS and Fidelity National Title Company.