Cannon Beach median list prices trended up in 2018 by 14.19%.
Using the median to help level anomalies we can see single family residential property listing near $685K. This is up from 2017 by over 14%. The median sales price also climbed (but as is typical not by as much as listing prices) by 13.3%. Inventory is running similar to Manzanita at about 30 units.
Cannon Beach, Manzanita and Neahkahnie trended stronger year over year for the last four years in a row.
The median list and sales prices are both trending up. We are also seeing less available inventory with the absorption rate down -18% from the close of 2017 to the close of 2018. This is pushing prices up. The median number of days on the market also declined from 2017 through 2018, down -16.67%.
The market clearly supports the increasing price, lower availability, and fewer days on the market that are being reported by the MLS. Cannon Beach is seeing the strongest pressure in the local single family residential housing market followed by Manzanita and then Neahkahnie.
We hope you find this MLS data useful. Please call us for a no obligation Comparative Market Analysis of your property when considering selling. We are looking forward to meeting you and earning your business.
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