WEATHER IN LINCOLN COUNTY


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Lincoln County Weekly Real Estate Report – Tammy Gagne, Broker

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LINCOLN COUNTY REAL ESTATE
Weekly Market Report
Data provided by Lincoln County Board of Realtors
Prepared by Tammy Gagne – Advantage Real Estate
5/23/2016 to  5/30/2016

RESIDENTIAL UNITS
FOR SALE                                                1037
SALES PENDING                                    245
SOLD – May 23 to May 30                      22
2016 YEAR TO DATE SOLD                  443
2015 YEAR TO DATE  SOLD                 418

LOTS AND LAND
FOR SALE                                                715
SALES PENDING                                    29
SOLD – May 23 to May 30                      2
2016 YEAR TO DATE SOLD                  80
2015 YEAR TO DATE SOLD                  89

MORTGAGE RATES
30YR FIXED – 3.75%
FHA/VA – 3.25%-3.5%
15 YEAR FIXED – 3.00%
5 YEAR ARMS –  2.75% – 3.25% depending on the lender

The number of sales pending are high, but most of that is due to the long period of time for appraisals to be completed and how long it is taking to close sales. Typical closing times for conventional loans is now at least 60 days due to the declining number of appraisers in the area. In most cases we are waiting 4 to 5 weeks for the appraisals to be completed. VA loans are taking even longer to close.
Tammy Gagne is a licensed Realtor in the State of Oregon License #870600040

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