Tom Henderson//January 3, 2013//
The most affordable homes in Oregon are in places like Boardman, Umatilla and Pendleton along the northern rim of the state, according to a house pricing survey released by Coldwell Banker.
Patsy Keimig isn’t surprised. She is a principal broker for American West Properties’ branch in Hermiston and said houses in her area are selling like hotcakes. The housing market would be even hotter, she said, if the inventory were greater.
鈥淚f we had more homes, we’d sell them,鈥 Keimig said. 鈥淥ur area is one of the most active real estate markets in the state. We just need more land and more homes.鈥
A four-bedroom, two-bath home in Hermiston runs about $140,000, she said. The same home in Portland would be more than $300,000. According to the housing price survey, the average price of a home that size in Pendleton is $185,000. The national average is $292,100.
Pendleton is a little pricier than Hermiston, Keimig said. 鈥淭he home prices in Umatilla and Boardman drag our average down a bit,鈥 she added.
Keep an eye on Boardman, Keimig advised.
鈥淏ig things are happening in the community,鈥 she said. 鈥淚n the next five years or so, you’re going to see some major construction in Boardman.鈥
Art Kegler, the owner of American West Properties in Boardman, said the Port of Morrow has a construction budget of $800 million that will be spent in the next few years.
The report lists Lake Oswego, Corvallis and Portland as the most expensive home markets in Oregon, with average prices from $350,000 to $500,000. Coos Bay and Woodburn are the second- and third-least expensive, with averages of $186,600 and $188,000, respectively.