Tag Archives: sales numbers

How is Hood River real estate doing? On track to better 2009

13 Sep

Thanks to Joel Knutson of Don Nunamaker Realtors, for sending along some comparative info on real estate sales in the city of Hood River, and the broader Hood River County Market, from 2005 through August of this year.

In the county, we’ve had 114 sales so far this year, compared to 179 in 2009, which was just a tick more than in 2005.

The peak year was 2006, with 281.

Then things began to fall apart — dropping in successive years to 241, 204 and the 179 of last year.

Compare that to activity inside the city of Hood River. To date, we’ve had 61 sales this year, compared to 74 in all of 2009.

“It looks at this point, at least for residential sales, that more transactions will close in 2010 than 2009.” Knutson says. “Knock on wood!”

Average home prices (which can be skewed by a couple of big sales) for the county peaked in 2007, at $348,439. A more accurate gauge for some people is the median price trend. The median price means that half of all sales were priced above the median number, half below.

The median price peak was in 2008, at $303,500 — $27,500 above what it has been this year.

Now shift your attention to the pricing chart for the city of Hood River.

You’ll see that the average price peaked in 2008, at $346,588. The median of $318,500 that year was also the highest in the last six years, tailing off $38,500 to $280,000 this year.

What are we to make of all this? That prices have held better out in the county, compared to the go-go city?

Savvy reader Dick Swart pointed out that the county numbers are probably inclusive of the Hood River numbers. Bingo. Knutson confirmed that.

So, if you subtract city sales from county sales, you see an interesting deviation. The peak year for county-only sales was, indeed, 2006, with county-only sales of 129. Then the number started to drop, until last year. That’s when county-only sales jumped from 85 in 2008 to 105, before falling back this year.

So, while Hood River and overall county sales were steadily dropping, the proportion of county-only sales was rising. Draw your own conclusions, but I’m guessing it had to do with affordability — lower prices in places like Odell and Cascade Locks, which made those areas more attractive in a down economy and in the face of overvalued Hood River properties.

One thing’s for sure — whatever the “value” of homes as gauged by selling prices, the record-low interest rates are sure driving a lot of people to cut the monthly price they pay to fund their mortgages. And if you’re not trying to sell your home, just live in it, that’s a good thing.