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April 2024 - Surf Pines Neighborhood - Real Estate Market Watch


Oregon coast realtor creating a market report
Julia Radditz, Oregon Coast Realtor

Dear Clients and Prospective Homeowners,


Today, I'm excited to shine a spotlight on the gem of Warrenton, Oregon - the Surf Pines gated community. I contribute quarterly real estate to the Surf Pines community, and want to extend this information to my clients as well.


Nestled along the breathtaking North Oregon Coast just North of Gearhart, Surf Pines is more than just a residential haven; it's an exclusive neighborhood that embodies the essence of coastal elegance. Surf Pines offers a unique blend of sophistication and natural beauty. From the soothing sounds of the Pacific Ocean, to the lush coastal landscapes and beaches that stretch for miles. This gated community is a sanctuary for those seeking privacy, security, and a connection to the serene coastal environment.

What sets Surf Pines apart is not only its picturesque setting but also the diverse range of properties therein. Whether you're envisioning a cozy beachfront cottage, a spacious family home with distant ocean views, or a tranquil retreat on the lake, Surf Pines may have the perfect beach home to match your dreams.


As you dive into exploring Surf Pines, I invite you to reach out to me with any questions or to schedule a private tour of available properties. Let TOTEM Properties be your gateway to the coastal lifestyle you've always dreamed of.


FOR SALE NOW IN SURF PINES

(click addresses below to view property photos & details)





RECENTLY SOLD IN SURF PINES


No recent sales since January 2024


Since the last publication of this newsletter in January 2024, no homes have sold in Surf Pines. There were no vacant land sales during this period, either. 


In Clatsop County, right now in April 2024, there are currently 140 homes on the market in active status and 50 are pending.  By the end of March 2024, homes were selling for an average of 96% of their list price, according to the Clatsop MLS.  The median sale price in March 2024 was $510,000 compared to a median sale price in March 2023 of $592,500, which represents a 13.9% decrease for the month. During that same period, average days on the market decreased from 116 to 107 days. 


March’s Consumer Price Index report showed us that we all spoke too soon in hoping that interest rates would drop considerably. That is not appearing to be the case, as inflation proves to be a more stubborn issue than anticipated. 


The real estate industry is also grappling with several future changes to our standards of practice, resulting from a legal settlement with the National Association of Realtors. At this time, the settlement is still subject to court approval, so the outcome is not certain. A likely result will be changes to the home buying process. Realtors will likely be required to enter written representation and compensation agreements with their clients earlier in the process, and offers of cooperative compensation between Realtors may no longer be permitted in the Multiple Listing Service. We’re in for some changes ahead, and smart consumers will continue to understand the value of working with a local real estate professional for the largest and most stressful financial transactions of their lives. 


So, is it a good time to buy? Is it a good time to sell? When is the best time for you to make a move? It truly all depends on your situation, the specifics of your property and what’s happening with the competition in your neighborhood’s sub-market. Consulting with a local real estate professional to guide you through making these big life decisions is always a smart idea. 


Our team of local Totem Properties agents is here to guide you through the process of buying or selling within this exclusive community. We understand the unique appeal of Surf Pines and are committed to helping you make informed real estate decisions that align with your lifestyle.


Thank you for allowing Totem Properties to be your guide in the North Oregon Coast real estate journey.


Warm Regards-

Julia Radditz



Courtesy of Julia Radditz, Principal Broker/Owner, TOTEM Properties

Market data provided by Clatsop MLS. Current as of 4/8/24

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