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
6/13/2016 to  6/20/2016

RESIDENTIAL UNITS
FOR SALE                                            1064
SALES PENDING                                235
SOLD – June 13 to June 20                   29
2016 YEAR TO DATE SOLD              534
2015 YEAR TO DATE  SOLD             507

LOTS AND LAND
FOR SALE                                             710
SALES PENDING                                  28
SOLD – June 13 to June 20                      7
2016 YEAR TO DATE SOLD                97
2015 YEAR TO DATE SOLD               106

Average time on the market for residential homes to sell 176 days. Average sales price for residential homes is $271,476. Sales currently pending are growing in number due to the spring/summer pick up in the market and the delay in closing sales with bank financing. The appraisals are still running nearly 4 to 6 weeks on convention loans, and well into 6 or 8 weeks for VA loans due to the diminishing number of appraisers in the area. In most bank financed sales we are seeing 60 or more days to close. This is becoming a problem for sellers hoping for a fast sale and quick close.

MORTGAGE RATES
30YR FIXED – 3.625%
FHA/VA – 3.25%-3.5%
15 YEAR FIXED – 2.875%
5 YEAR ARMS –  2.75% – 3.25% depending on the lender

Tammy Gagne is a licensed Realtor in the State of Oregon License #870600040

 

 

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