Reedsport, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Reedsport, OR Real Estate Data


Reedsport Housing Market Information

With a population of 4,107, 1,867 total housing units (homes and apartments), and a median house value of $183,161, Reedsport real estate values are some of the lowest in Oregon, although compared to real estate around the nation, Reedsport homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Reedsport, accounting for 69.93% of the city's housing units. Other types of housing that are prevalent in Reedsport include mobile homes or trailers ( 12.55%), large apartment complexes or high rise apartments ( 9.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.81%).

The most prevalent building size and type in Reedsport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.05% owning and 36.95% renting.

There is a lot of housing in Reedsport built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Reedsport built between 1940-1969 ( 42.80%). A lesser amount of the housing stock also hails from before 1939 ( 8.36%). There's also some housing in Reedsport built between 2000 and later ( 2.51%).

Vacant housing appears to be an issue in Reedsport. Fully 13.24% of the housing stock is classified as vacant. Left unchecked, vacant Reedsport homes and apartments can be a drag on the real estate market, holding Reedsport real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Reedsport Home Appreciation Rates

Reedsport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Reedsport during the period has been just -1.46%, which is lower than 80% of US communities.

Appreciation rates are so strong in Reedsport that despite a nationwide downturn in the housing market, Reedsport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reedsport appreciation rates continue to be some of the highest in America, at 9.63%, which is higher than appreciation rates in 97.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reedsport. Reedsport appreciation rates in the latest quarter were at 2.75%, which equates to an annual appreciation rate of 11.45%.

Importantly, this makes Reedsport one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Oregon, our data show that Reedsport's latest annual appreciation rate is higher than 80% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$183,161

Reedsport, OR HOME PRICES

Value Range
> $1,173,000 0.0
$879,001 - $1,173,000 0.0
$587,001 - $879,000 0.0
$469,001 - $587,000 2.3
$352,001 - $469,000 6.8
$235,001 - $352,000 22.9
$118,001 - $235,000 39.7
$59,001 - $118,000 12.3
$0 - $59,000 16.1

Very Low for OR
High for Nation

Value Relative to Nation Value Relative to State
38.2297827487264 86.9565217391304

Number Of Homes And Apartments:
1,867

Rent & Ownership

 

Average Market Rent:
$970 / per month

Homeownership Rate

Homeownership
Owners 63.05
Renters 36.95
Vacant 13.24

Housing Market Details

 

Age of Homes

AGE OF Reedsport HOMES
2000 or Newer 2.5
1970 - 1999 46.3
1940 - 1969 42.8
1939 or Older 8.4

Types of Homes

TYPE OF Reedsport HOMES
Single-Family 69.9
Townhomes 2.2
Small Apt. Buildings 5.8
Apt. Complexes 9.0
Mobile Homes 12.5
Other 0.5

Home Size

SIZE OF Reedsport HOMES
No Bedroom 2.00
1 Bedroom 9.90
2 Bedrooms 34.48
3 Bedrooms 39.03
4 Bedrooms 9.29
5 or more bedrooms 5.30

Reedsport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
60.84% 2.84% 5 7
* 10 is highest

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