Condos in Clackamas, Oregon
The condominium market in Clackamas, Oregon has been showing some interesting changes. A review of all the data in the MLS for that area (zip code 97015) has been included in this analysis. The questions had been asked if property values were going up or down, if supply and demand were in balance and if marketing times were reasonable. Let’s see.
In the six months from December 1st 2006 to June 1st 2006 the average sales price of a condo in Clackamas was $134,887. In the six months from June 1st to December 1st 2007 the average sales price was $140,030. This is a 4% rise in sales price. So, we could say the market is up. However, the market has taken a turn and these statistics are past based. They can not look forward. We must keep in mind that as the market turns an “increase in the rate of decrease” may be occurring that the recent statistics do not show. I say that around April 1st 2008 this analysis might be done again and then we will have a much better reading of the market’s direction. Right now it is pointed downward, but this could be short lived. Also, there is a bell curve of activity over a typical year. It is cold in January and the market activity is lower. It is hot in July and the market activity is up. It is cold in December and market activity is down again. With this standard bell curve of activity in mind, it is understood that this time of the year would show lower activity than the summer. Yet, all signs appear to be down for now.
In the last six months there were 40 sales of condos in Clackamas through MLS listings. That equates to 6.67 sales per month. There are now 70 such listings. That suggests a ten and a half month supply on the market at this time.
And what is happening with marketing time??? Well, it looks like this. In the six months from December 1st 2006 to June 1st 2007 the average marketing time for condominiums in Clackamas was 11 days. Since June 1st 2007 the average marketing time was 36 days. AND, there are now 70 listings. AND, they have been on the market for an average of 129 days. Now that is an upswing!!! Or, should I say, downswing?
(It should be noted that none of the statistics in this analysis have been gleaned to remove anomalies. It is all the raw stuff.)
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