In 2013 there were 158 Closed home sales in the Villages of Mt Hood from Alder Creek on the west to Government Camp to the east and also including the towns of Welches, Brightwood and Rhododendron, Oregon. 2013 closed sales were up from the 140 closed transactions in 2012 or a 13% increase in the number of sales for 2013 . Volume is a more impressive increase for 2013. Total Residential Sales volume for the year was up by approximately 28% over 2012.
Here are some additional Mt Hood Real Estate Market factoids:
- The Median Sale price rose in 2013 to $201,750. It was up from $172,000 for the 2012 Median Sale Price for Homes, Cabins and Condos.
- The total number of Distressed Sales, either a Bank Owned or Short Sale transaction, in the Villages of Mt Hood fell in 2013 to 14% of the total Number of closed sales or 9% of the total volume. In 2012, 25% of the transactions were “Distressed” sales. I predict these distressed sales will continue to dribble into the marketplace creating what is being called a “New Normal”. The new category of Judicial Forecloses for the state of Oregon may impact the marketplace. Time will tell.
- Forest Service cabins accounted to approximately 16% of the market in 2013. This is not much of a change from 2012. The Median Sale price was $115,000 in 2013 and in 2012 it was $148,500 . This was a 23% DROP in 2013, the only niche Mt Hood Market in 2013 to have experienced a decline. The reason for this decline was a large number of sales at the lower price points due to necessary infrastructure improvements ie. septic system installation that the buyers completed.
- Waterfront properties account for a significant number of transactions each year in the Villages of Mt Hood. In 2013, 37% of the transactions were on streams, creeks, rivers or lakes.
- There was an Increase in Government Camp condo volume in 2013 over 2012 by a walloping 101% . Fewer distressed sales and increase in the High End Luxury condos sales account for the percentage increase.
Happy House Hunting in 2014!