Wonder how the market is doing for new real estate construction these days in our local Linn and Benton County markets?  Let's compare the past 12 months to the 12 months prior and see!

12 Months Prior to:  Benton 10/07 - Benton 10/08 - Linn 10/07 - Linn 10/08

Units Sold                   167                 113                     403                286

Avg Sales Price        $338,119          $348,557           $221,396        $221,715

Avg Square Footage   2079                2249                   1696             1715

Avg Cost per Sq Ft     $163                 $155                   $131             $129

Avg Days on Market    160                   199                    175               160

Currently Active Listings 134                98                     300               235

As you can see the numbers are much larger for numbers of units sold and active in Linn County.  There have been virtually no new construction going on since this spring.  Much of the inventory is being sold so the numbers are down from last year on currently active.  The average days on market has understandably gone up over the past year.  The cost per sq ft has come down in both counties.  Total numbers of sales has declined most markedly in the past year.  This is due to financing changes and market skiddishness.  As prices decline, and interest rates still being in the 6% arena, this is a most attractive scenario for investment.