Newberg Real Estate Market Reaches Contracts Low

A dip in the number of pending transactions in the Newberg market over the last 30 days resulted in the lowest amount since April. While 38 homes went under contract, there were 37 completed sales. During the same time frame, Beaverton had the most of any other neighboring municipalities with 162 contracts executed. The median sales price rose to $301,311, up from last week's $294,994. There are only two months of inventory available in Newberg, so it's still definite seller's market, even with the shrinking contracts numbers.

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Demographic facts about Newberg:

  • The median house value here is $181,900.
  • The area gets 150 rainy days a year. (U.S. average: 100)
  • This area has an unemployment rate of 8.2%.
  • The student-to-teacher ratio is 19.5:1. (15.3:1 = national average)

Data reported through 10/12/2016

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