The State of the Lincoln County Real Estate Market

Posted by Advantage Real Estate on Friday, November 14th, 2014 at 1:31pm.

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Home, condo sales closing in on $200 million

Modified: Thursday, Nov 13th, 2014


 
A sale is pending on this home at 450 NE 70th Place in Newport. The 3 bedroom, 2.5 bath ocean view home was originally listed at $289,000. Broker Bonnie Saxton of Advantage Real Estate in Newport has the listing.
 
 
NEWPORT — A robust start to the fall season has the regional residential real estate market knocking on the door of $200 million in deals for the year.

Sales of residential-site built properties leaped to $24.30 million in October from $16.21 million in October 2013. At the same time, sales of condominiums and townhouses rose to $1.48 million from $1.20 million.

The combined increase of 48 percent left total sales for residential-site built and condo properties at $189.05 million through the first 10 months of 2014.

Broker Bonnie Saxton of Advantage Real Estate in Newport compiled the data from the Lincoln County Board of Realtors Multiple Listing Service. Property categories are defined by the service. 

“It’s been a long time since we had that kind of year,” said Saxton on the likelihood of reaching $200 million in residential sales in 2014.

The last time the regional real estate market surpassed $200 million in sales was 2007 when $285.82 million in transactions were booked. 

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