Pendleton Oregon Real Estate Bucks National Trend
February 15th, 2008 Posted in La Grande Real Estate
The East Oregonian headlined an article reporting that Umatilla County Real Estate is not following the current down cycle of property prices across the nation. In fact the market continues to rise at an average of rate of 5 to 7 percent. Terry Fife a local real estate appraiser notes that the average sale price in 2006 was $133,900 and in 2007 that figure rose 6.3% to $142,000.
As you can see property prices are still relatively low in this little known jewel of beauty we call Eastern Oregon. There seems to be a consensus among locals that at some point the area will begin to see moderate growth with continued increase in property prices. The surrounding areas of Bend, Hood River, and Walla Walla have all seen major price appreciation in the past several years. Perhaps Pendleton and neighboring communities are poised to follow this trend.
Union County’s Real Estate Market is also very similar to Umatilla County’s Real Estate market.
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