Oregon Real Estate

The land in the state of Oregon is unique and diverse. It has a beautiful, rocky Pacific coastline, fertile farmland river valleys and volcanic Cascade Mountain Ranges. The frequent rain and snow make this state a beautiful place to live in all months of the year. Oregon’s landscape also makes it a favorite for sports enthusiasts. The Columbia Gorge National Scenic Area is a spectacular river canyon cutting the only sea-level route through the Cascade Mountain Range. The Columbia River gorge is considered by many to be the best place in the world for windsurfing. Eugene is also rated as a top ten destination (in the U.S.) for cycling.

Of its 61.4 million total acres, 17 million acres are farmed. Oregon, as of 2005 has a population of 3.6 million people. Of that number, 2.8 million live in urban regions of the state. 64.2 percent of Oregon’s population are homeowners, and there are 1.4 million housing units in the state. 1.13 million properties are in urban areas and 321,000 are in rural parts of Oregon.

Housing construction is up in recent years. In 2000, new home construction was up 21.7 percent from the year before. Property values have gone up leaps and bounds in recent years too. In Eugene, prices have jumped 15-20 percent since 2005. The average home is $205,700 and sells in 30 to 60 days. The area has an even amount of buyers and sellers with a limited amount of homes available. Most buyers are already homeowners in the area and are looking to buy bigger and better homes. Eugene is also experiencing population growth at this time, which is making homes harder to find.

Another hot spot is Western Portland. Portland is Oregon’s biggest city and its shopping areas are very popular because there is no sales tax in the state. The market is very tight and it only takes sellers ten to thirty days to sell their home. The average price is up 10-15% from last year’s prices, making the average $389,000 for a single family home. Buyers are receiving one hundred percent of their asking price or more. The number one buyers of homes are current homeowners looking for an upgrade. New construction will keep this location popular in the near future.

Sherwood is also an up and coming area to live in. Homes are selling in days, not weeks, with most selling in less than 10 days on the market. The average price of a home is up 15-20% from last year’s price. The average home goes for $260,000 and many the new developments make this a popular buying spot for single families.