Nehalem, OR 97131
Tuesday July 12 2023
This week the median list price for Nehalem, OR 97131 is $659,000 with the market action index hovering around 33. This is less than last month's market action index of 37. Inventory has increased to 10.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
The market has been cooling in Nehalem over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Median List Price
We continue to see prices in Nehalem bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Price Per Square Foot
The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.
Inventory
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
Median Days on Market (DOM)
The properties have been on the market for an average of 119 days. Half of the listings have come newly on the market in the past 69 or so days. Watch the 90-day DOM trend for signals of a changing market.
View current Nehalem, Oregon MLS listings here.
