Housing Inventory in the Salem Area? (Portland, Bend: sales, real estate, rent)

[attentionspanltd]

My wife and I currently live in a resort town in the Colorado Mountains. Although we love it here, my wife and I had our first child about a year ago, and are really starting to outgrow our 790 sqft condo. Apparently housing inventory is low all across the country right now, but it has been especially bad here - our budget is around $300-$350K, but actual houses do not typically sell for less than $500K (and you'll only see one or two per month on the MLS at that price anyway). Once or twice a month, a 3 br condo will come on the market between $300-$400K, but are typically under contract by the end of the day.

As a result of our fruitless search for a new place to live, we have been contemplating a move somewhere else. Yesterday, I got an offer to interview for a position in Salem, OR. Prices in the area are definitely in our price range, and it looks like a great city. I checked the MLS though, and many of the homes that showed up are pending/under contract. We don't want to end up moving somewhere new, only to find that there's nothing to buy there either! Does anyone have any insight as to how much inventory we can expect to see, how long houses typically stay on the market, etc.?

Thanks!

[Silverfall]

Homes will be on an off the market in about 48-72 hours unless there is some kind of "defect" such as being on a busy street, funky floor plan, etc. We have about two months of inventory and a normal market would have 5-6.

$300-$350 is competitive here, but it is very doable to find a home, not a condo but a house. You might have to write a couple of offers to get a home, depending on what you want. You won't be able to fly out to see homes though. They will be on and off the market before you can get out here. You'd need to come here, then rent while you look.

[oregonwoodsmoke]

I do real estate for my living, but not in Salem. I've been on this forum for several years and in all that time I've never seen Silverfall say anything unreasonable, untrue, or unprofessional. She knows her area well. I know enough about Salem to be able to tell that she is giving facts and not just making things up. So I am going to recommend that you make and appointment to speak to her in person and have her show you property.

When you are buying, you need an agent you can trust and one who knows the area well. It's not all that easy to find a good agent who will work hard for you, and you've got that option here.

Also, take a little time to look around and see what the different areas are like but when you find a decent house in a good location, be prepared to act fast.

[attentionspanltd]

Thanks for your help, guys... Looks like things really are tough all over.

[5gables]

There are a couple of homes websites where you can search on recent sales such as last three months. Prices in Salem still look pretty reasonable. Nothing like Portland or Bend.