John's Report
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LINCOLN COUNTY, OREGON REAL ESTATE REPORT
3rd Quarter 2011 Posted November 2011
Snap Shot
The first graph shows the number of active listings represented by the red line, new listings are in brown and sold in black. The graph shows a great disparity between the number of properties available and what has sold to date this year. I would suggest it indicates that buyers have a strong advantage in negotiating a good deal for themselves as well as a lot of inventory to choose from. Sellers to succeed in this market need to have their home aggressively priced and available on a moments notice to show.
The second graph indicates the active and new mean list prices, as well as the sold mean price. The third chart illustrates the volume of sales over the last decade. Overall 2011 looks quite similar to 2010, though the data is not in for November and December.
In regard to foreclosures while there has been a slow down in the volume of foreclosure rates the percentage of sales that are foreclosures and short sales is still over 20%. Roughly one in every 5 sales is a foreclosure or short sale.
Click Here for REAL TRENDS TOP 500 REPORT
VOLUME OF SALES
2000 - 2011
| 2000 |
2001 |
2002 | 2003 |
2004 |
2005 | 2006 |
2007 | 2008 | 2009 | 2010 | 2011 | |
| January |
109 | 126 | 116 | 152 | 168 | 214 | 172 | 124 | 81 | 54 | 66 | 63 |
| February | 113 | 104 | 126 | 123 | 173 | 190 | 196 | 124 | 84 | 62 | 66 | 79 |
| March | 163 | 121 | 152 | 160 | 243 | 306 | 244 | 161 | 90 | 70 | 96 | 79 |
| April | 130 | 142 | 220 | 152 | 260 | 307 | 216 | 161 | 90 | 89 | 85 | 94 |
| May | 134 | 142 | 173 | 192 | 279 | 302 | 229 | 191 | 105 | 76 | 97 | 103 |
| June | 179 | 168 | 199 | 242 | 321 | 335 | 255 | 179 | 103 | 95 | 102 | 92 |
| July | 161 | 185 | 179 | 261 | 316 | 291 | 201 | 156 | 103 | 105 | 93 | 91 |
| August | 163 | 207 | 211 | 241 | 339 | 374 | 267 | 171 | 109 | 103 | 104 | 96 |
| September | 181 | 158 | 205 | 254 | 336 | 318 | 184 | 164 | 103 | 118 | 114 | 86 |
| October | 168 | 158 | 217 | 272 | 292 | 303 | 217 | 142 | 78 | 105 | 98 | 35 |
| November | 147 | 130 | 170 | 182 | 218 | 227 | 177 | 99 | 80 | 91 | 80 | n/a |
| December | 111 | 132 |
160 | 213 | 265 | 225 | 113 | 90 | 62 | 102 | 102 | n/a |
| TOTAL | 1759 | 1773 | 2128 | 2444 | 3210 | 3392 | 2471 | 1762 | 1088 | 1070 | 1103 | 818 |
FORECLOSURE RESALES AND SHORT SALES
EXPRESSED AS A PERCENT OF TOTAL SALES
|
2011
TO DATE |
20.2% |
|
2010 |
21.1% |
| 2009 | 17.4% |
| 2008 | 5.4% |
| 2007 | 1% |
| 2006 | .6% |
| 2005 | 1.9% |
| 2004 | 2.7% |
| 2003 | 4.5% |
| 2002 | 5.8% |
| 2001 | 5.5% |
| 2000 | 4.4% |
| Year |
# of Foreclosures |
|
2011
to date |
103 |
| 2010 | 218 |
| 2009 | 175 |
| 2008 | 106 |
| 2007 | 26 |
| 2006 | 15 |
| 2005 | 45 |
| 2004 | 71 |
| 2003 | 128 |
| 2002 | 124 |
| 2001 | 131 |
| 2000 | 116 |
REAL ESTATE REPORT - UPDATED SUMMER 2011
The following information was gathered from the Lincoln County Board of Realtors from 2006 through *06/30/2011 from our Multiple Listing Service. The figures are averages for these years covering areas from Yachats through South Tillamook County.
This does not include sales considered out of the area in our Multiple Listing Service.
*RESIDENTIAL*
| 01/01/2011 - 06/30/2011 |
248 Sales |
Average Price |
$231,601.00 |
| 01/01/2010 - 06/31/2010 |
238 Sales |
Average Price |
$264,467.00 |
| 01/01/2010 - 12/31/2010 | 506 Sales |
Average Price |
$272,257.00 |
| 01/01/2009 - 12/31/2009 |
458 Sales |
Average Price | $304.193.00 |
| 01/01/2008 - 12/31/2008 |
435 Sales |
Average Price |
$341,938.00 |
| 01/01/2007 - 12/31/2007 |
610 Sales |
Average Price |
$371,974.00 |
| 01/01/2006 - 12/31/2006 |
818 Sales |
Average Price |
$357,814.00 |
| 01/01/2005 - 12/31/2005 |
1095 Sales | Average Price |
$290,757.00 |
*CONDO/TOWN HOUSES*
| 01/01/2011 - 06/30/2011 |
41 Sales |
Average Price |
$197,778.00 |
| 01/01/2010 -12/31/2010 | 74 Sales |
Average Price |
$205,731.00 |
| 01/01/2009 - 12/31/2009 |
79 Sales |
Average Price | $226,938.00 |
| 01/01/2008 - 12/31/2008 |
62 Sales |
Average Price |
$301,033.00 |
| 01/01/2007 - 12/31/2007 |
155 Sales |
Average Price |
$302,147.00 |
| 01/01/2006 - 12/31/2006 |
180 Sales |
Average Price |
$271,004.00 |
| 01/01/2005 - 12/31/2005 |
173 Sales | Average Price |
$233,724.00 |
*RESIDENTIAL LAND*
| 01/01/2011 - 06/30/2011 |
50 Sales |
Average Price |
$67,897.00 |
| 01/01/2010 - 06/30/2010 |
42 Sales |
Average Price |
$109,425.00 |
| 01/01/2010 - 12/31/2010 | 94 Sales |
Average Price |
$108,512.00 |
| 01/01/2009 - 12/31/2009 |
99 Sales |
Average Price | $97,901.00 |
| 01/01/2008 - 12/31/2008 |
101 Sales |
Average Price |
$143,985.00 |
| 01/01/2007 - 12/31/2007 |
190 Sales |
Average Price |
$166,652.00 |
| 01/01/2006 - 12/31/2006 |
408 Sales |
Average Price |
$158,490.00 |
| 01/01/2005 - 12/31/2005 |
667 Sales | Average Price |
$102,772.00 |
Acreage development property with sales over $1million are excluded from 2007, 2008 & 2009
For residential land sales in the first quarter for 2009, 2010 & 2011, 5 boat slips and 1 garage were omitted.
In the current real estate market, one of the biggest questions buyers have tends to be in regards to foreclosures and short sales. While most investors are aware that there is an abundance of foreclosed property available most are unaware of the past history of foreclosed properties in Lincoln County. Since 1990, the year with the highest number of foreclosures was in 2010 with an unprecedented 218 foreclosures. If you are wondering when the least number of foreclosures took place with that time frame, you would have to look back to 2006 when only 15 foreclosures occurred. The Lincoln County MLS recently released the following data:
| Year | # of Foreclosures |
| 1990 | 22 |
| 1991 | 34 |
| 1992 | 49 |
| 1993 | 32 |
| 1994 | 28 |
| 1995 | 28 |
| 1996 | 28 |
| 1997 | 44 |
| 1998 | 53 |
| 1999 | 101 |
| 2000 | 116 |
| 2001 | 131 |
| 2002 | 124 |
| 2003 | 128 |
| 2004 | 71 |
| 2005 | 45 |
| 2006 | 15 |
| 2007 | 26 |
| 2008 |
106 |
| 2009 |
175 |
| 2010 | 218 |
| 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | |
| January | 152 | 131 | 134 | 125 | 115 | 109 | 126 | 116 | 152 | 168 | 214 | 172 | 122 | 81 | 54 | 67 |
| February | 140 | 134 | 104 | 133 | 132 | 113 | 104 | 126 | 123 | 173 | 190 | 196 | 124 | 84 | 62 | 65 |
| March | 199 | 181 | 140 | 155 | 144 | 163 | 121 | 152 | 160 | 243 | 306 | 244 | 161 | 90 | 70 | 97 |
| April | 156 | 184 | 168 | 143 | 149 | 130 | 142 | 220 | 152 | 260 | 307 | 216 | 161 | 90 | 89 | 85 |
| May | 195 | 180 | 174 | 165 | 141 | 134 | 142 | 173 | 192 | 279 | 302 | 229 | 191 | 104 | 75 | 94 |
| June | 186 | 231 | 154 | 153 | 180 | 179 | 168 | 199 | 242 | 321 | 335 | 255 | 179 | 103 | 95 | 103 |
| July | 166 | 213 | 158 | 186 | 185 | 161 | 185 | 179 | 261 | 316 | 291 | 201 | 156 | 103 | 105 | 93 |
| August | 202 | 203 | 176 | 193 | 184 | 163 | 207 | 211 | 241 | 339 | 374 | 267 | 170 | 109 | 103 | 103 |
| September | 206 | 214 | 177 | 185 | 202 | 181 | 158 | 205 | 254 | 336 | 318 | 184 | 164 | 102 | 118 | 113 |
| October | 206 | 180 | 198 | 183 | 161 | 168 | 158 | 217 | 272 | 292 | 303 | 217 | 142 | 76 | 105 | 94 |
| November | 157 | 166 | 116 | 136 | 139 | 147 | 130 | 170 | 182 | 218 | 227 | 176 | 99 | 78 | 91 | 76 |
| December | 157 | 126 | 145 | 152 | 119 | 111 | 132 | 160 | 213 | 265 | 225 | 113 | 90 | 58 | 102 | 93 |
| TOTAL | 2122 | 2143 | 1844 | 1909 | 1851 | 1759 | 1773 | 2128 | 2444 | 3210 | 3392 | 2470 | 1759 | 1078 | 1069 | 1083 |
LINCOLN CITY RESIDENTIAL REAL ESTATE TRENDS FROM 1995 -2008
MEDIAN SALES REPORT
BARE LAND
| Property | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
| Type | ||||||||||||||||
| Oceanfront | $164,000 | $160,000 | $170,000 | $170,000 | $179,500 | $150,000 | $185,000 | $185,000 | $168,000 | $222,500 | $275,000 | $499,000 | $555,000 | $595,000 | $541,000 | $294,500 |
| Riverfront | $66,500 | $50,000 | $55,500 | $55,000 | $70,000 | $43,500 | $63,500 | $55,000 | $64,000 | $54,750 | $69,000 | $91,000 | $130,000 | $70,000 | $67,000 | $74,000 |
| Lakefront | $90,000 | $70,000 | $152,000 | $97,000 | $130,000 | $92,000 | $96,000 | $85,000 | $162,000 | $150,000 | $205,000 | $153,000 | $98,250 | $417,000 | na | $567,500 |
| View | $45,000 | $45,000 | $49,500 | $50,000 | $52,500 | $50,000 | $56,000 | $46,250 | $55,000 | $60,000 | $86,500 | $146,750 | $161,250 | $150,500 | $87,500 | $82,000 |
| Non-View | $27,000 | $32,000 | $33,000 | $35,000 | $30,000 | $35,000 | $35,000 | $35,750 | $32,000 | $39,000 | $45,000 | $89,900 | $76,500 | $65,000 | $53,000 | $52,000 |
IMPROVED PROPERTY
| Property | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 |
| Type | ||||||||||||||
| Oceanfront | $320,000 | $310,000 | $267,500 | $300,000 | $309,500 | $339,750 | $325,750 | $325,000 | $415,000 | $462,500 | $666.500 | $780,000 | $800,000 | $770,000 |
| Riverfront | $117,500 | $117,500 | $131,000 | $132,000 | $132,500 | $139,500 | $125,000 | $140,000 | $149,000 | $163,500 | $160,750 | $240,000 | $225,500 | $231,000 |
| Lakefront | $265,000 | $175,500 | $208,000 | $245,000 | $230,000 | $210,000 | $233,000 | $272,500 | $250,000 | $372,500 | $477,500 | $479,000 | $705,000 | $600,000 |
| View Homes | $139,000 | $140,000 | $160,000 | $162,750 | $162,000 | $163,500 | $168,500 | $165,000 | $180,000 | $234,000 | $275,000 | $350,000 | $350,000 | $350,000 |
| Non-View | $93,000 | $100,000 | $107,000 | $105,000 | $110,000 | $111,750 | $115,000 | $124,000 | $127,000 | $145,500 | $184,500 | $220,000 | $248,000 | $247,500 |
| New Constr. | $146,000 | $136,000 | $156,000 | $165,000 | $157,500 | $179,000 | $180,000 | $197,000 | $214,000 | $279,500 | $307,000 | $391,000 | $449,000 | $417,500 |
| Per. Prop Mob. | $17,000 | $20,000 | $25,000 | $24,250 | $21,500 | $13,500 | $17,500 | $23,000 | $27,000 | $34,000 | $20,000 | $21,000 | $23,000 | $25,000 |
| SnglWide Mob. | $50,000 | $53,750 | $58,000 | $59,500 | $55,000 | $52,750 | $53,000 | $51,750 | $56,000 | $64,500 | $72,500 | $88,000 | $109,000 | $89,000 |
| DblWide Mob. | $85,000 | $91,500 | $93,000 | $98,500 | $92,000 | $104,000 | $110,000 | $102,500 | $113,750 | $123,500 | $138,750 | $168,750 | $183,500 | $165,000 |
| New Mob.Home | $95,000 | $110,000 | $90,000 | $113,000 | $117,500 | $106,000 | $122,000 | $115,000 | $126,000 | $147,500 | $154,500 | $198,000 | $213,750 | $249,750 |
| Condominiums | $105,000 | $130,000 | $130,000 | $154,750 | $150,000 | $165,000 | $156,000 | $161,000 | $149,500 | $195,000 | $205,000 | $204,000 | $231,500 | $215,000 |
|
All Housing Units |
$102,000 | $110,500 | $125,000 | $125,000 | $125,000 | $130,000 | $135,000 | $135,000 | $146,000 | $165,000 | $195,000 | $240,000 | $257,750 | $250,000 |
| BARE LAND | ||||||||||||||||
| Property | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 |
2010 |
| Type | ||||||||||||||||
| Oceanfront | 24 | 27 | 25 | 13 | 26 | 11 | 27 | 30 | 37 | 40 | 22 | 11 | 12 | 2 | 2 | 2 |
| Riverfront | 24 | 21 | 17 | 16 | 13 | 10 | 10 | 15 | 25 | 26 | 32 | 20 | 17 | 10 | 7 | 5 |
| Lakefront | 7 | 1 | 2 | 8 | 4 | 4 | 2 | 3 | 5 | 5 | 4 | 2 | 2 | 1 | 0 | 2 |
| View | 149 | 131 | 137 | 129 | 112 | 96 | 84 | 152 | 203 | 356 | 287 | 188 | 98 | 46 | 38 | 31 |
| Non-View | 223 | 176 | 155 | 128 | 144 | 110 | 101 | 120 | 182 | 285 | 320 | 190 | 82 | 51 | 59 | 44 |
| IMPROVED | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
| PROPERTY | ||||||||||||||||
| Oceanfront | 41 | 39 | 49 | 51 | 62 | 48 | 52 | 57 | 74 | 82 | 82 | 53 | 34 | 19 | 24 | 26 |
| Riverfront | 52 | 42 | 32 | 62 | 55 | 38 | 43 | 51 | 67 | 88 | 74 | 71 | 36 | 32 | 22 | 20 |
| Lakefront | 15 | 9 | 15 | 10 | 9 | 14 | 15 | 10 | 24 | 16 | 20 | 14 | 4 | 7 | 4 | 4 |
| View Homes | 214 | 241 | 241 | 248 | 250 | 258 | 264 | 328 | 348 | 470 | 431 | 354 | 265 | 141 | 141 | 130 |
| Non-View | 379 | 387 | 303 | 341 | 323 | 268 | 297 | 339 | 393 | 519 | 605 | 431 | 361 | 229 | 162 | 151 |
| New Constr. | 86 | 70 | 59 | 55 | 46 | 51 | 47 | 31 | 50 | 101 | 143 | 123 | 138 | 96 | 60 | 25 |
| Per.Prop. Mob. | 31 | 34 | 25 | 46 | 48 | 39 | 46 | 51 | 39 | 67 | 82 | 43 | 41 | 38 | 39 | 44 |
| SnglWdMob. | 47 | 48 | 37 | 33 | 41 | 36 | 47 | 54 | 37 | 48 | 65 | 49 | 47 | 17 | 12 | 15 |
| DblWdMob. | 108 | 115 | 100 | 140 | 116 | 118 | 115 | 155 | 190 | 222 | 248 | 216 | 130 | 109 | 76 | 71 |
| New Mobile | 30 | 17 | 9 | 15 | 11 | 15 | 19 | 13 | 16 | 37 | 39 | 25 | 29 | 13 | 10 | 1 |
| Condominium | 83 | 89 | 81 | 104 | 83 | 104 | 81 | 114 | 119 | 149 | 185 | 189 | 140 | 57 | 60 | 49 |
| All Housing Units | 902 | 930 | 831 | 944 | 903 | 846 | 868 | 1047 | 1186 | 1522 | 1638 | 1313 | 978 | 544 | 496 | 455 |
Information for these reports were obtained from the Lincoln County MLS and are deemed to be reliable but are not guaranteed.
All sales in this study are considered arms-length open market transactions
Land categories do not include septic denied or unbuildable parcels. All land included are considered single building sites, not development or forest/farm acreage.
All improved sales include land value except condominiums and the personal property mobile home categories.
The non-view improved category includes only single family stick built residence. Does not include condominiums or mobile homes.
The All Housing Units category includes all improved categories except personal property mobile homes.
I have extensive information available regarding current and historical home, land & commercial sales in Lincoln City and Lincoln County Oregon. I am also able to give you the the sales data for specific areas and neighborhoods. Please e-mail me your requests and I will be happy to obtain the kind of information you seek.
Aloha - John
