The Gearhart market slowed with a 28.6% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 5.1 monthly average with five homes sold. Within the same time frame, Seaside had 24 sales, the most of all cities in the area. Potential buyers should note that prices are coming down in Gearhart, and for this period the median sales price slid from $452,000 to $406,500. With decreasing sales and the availability of eight months of inventory, Gearhart is a definite buyer's market.
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