2024 Arch Cape Real Estate Market Report
Inventory Overview
Arch Cape, Oregon, remains a coveted location for those seeking coastal tranquility paired with luxurious living. In the past 12 months, the market has been defined by a notable scarcity of available properties. According to the data from October 2023 to September 2024, the number of active listings has fluctuated slightly, with an average of 7 active listings per month, reflecting the area's limited inventory. Arch Cape’s market size is inherently small, and this level of inventory is consistent with its history of low turnover, where properties often remain in families or serve as long-term vacation homes.
In terms of new listings, there has been an average of 2 new listings per month over the last year. This small number of new homes entering the market emphasizes the exclusivity of Arch Cape and its appeal to a select group of buyers willing to wait for the right property to become available. In June 2024, the market saw a high of 5 new listings, but in other months, like February 2024, there was only 1 new listing, underscoring the unpredictability of inventory in this small market.
As expected, the tight inventory has sustained higher listing prices. The data indicates that the average listing price over the last 12 months was $1.5 million, with a median price of $1.6 million, showing that even smaller homes in this area command premium prices.
Market Trends
The Arch Cape real estate market in 2024 has been shaped by broader economic trends, such as rising interest rates and inflation concerns, but the area’s distinct luxury market has insulated it somewhat from these pressures. Over the last year, the number of pending listings has averaged 2 per month, which is relatively steady considering the limited number of homes available. January and March 2024 each saw a modest 2 pending listings, while May 2024 reported 4, illustrating some variability in buyer activity.
Despite these fluctuations, the market has remained strong, with the months of inventory figure consistently hovering around 4 months, indicative of a balanced market that slightly favors sellers. This stability in inventory turnover is a reflection of Arch Cape’s unique market characteristics—its natural beauty, strict development limits, and an affluent buyer base that is less sensitive to economic volatility.
The average sale price over the past year has hovered around $1.3 million, with the highest sales price recorded at $2.2 million for a premium oceanfront property in July 2024. The median sales price has remained strong at $1.5 million, reinforcing the fact that even modest homes can command high prices in this exclusive market. The sale-to-list price ratio over the past 12 months has remained high at 98.5%, which means that homes generally sell very close to their asking prices. This reflects a market where well-priced properties are in demand, and buyers are willing to pay top dollar to secure a home in this desirable location.
Sales Activity
Sales activity in Arch Cape over the past 12 months has been relatively consistent, with an average of 2 homes sold per month. December 2023 saw a spike in sales, with 4 homes sold, while other months, like March 2024, only saw a single sale. This low volume of sales is typical for the area, but each transaction is significant due to the high value of the homes sold.
The average days on market (ADOM) for sold properties was 67 days, though this ranged significantly depending on the specific property. Homes that were priced competitively and featured premium amenities, such as ocean views or direct beach access, often sold in less than 45 days. For example, a well-located oceanfront property listed in July 2024 sold within 30 days, while properties located further inland or requiring renovations took longer to sell.
One of the more notable trends has been the prevalence of cash buyers in the Arch Cape market. Over the past 12 months, 40% of all transactions have been all-cash deals. This has allowed for quicker closings and has helped sustain property values, even as interest rates have risen. Most of these cash buyers are second-home purchasers from metropolitan areas like Portland, Seattle, and California, who are drawn to Arch Cape for its exclusivity and scenic beauty.
Conclusion
The real estate market in Arch Cape has remained resilient throughout 2024, characterized by limited inventory, strong buyer demand, and high home values. The data from the last 12 months highlights the consistent appeal of this small coastal community, where homes sell quickly, often at or near their listing prices, despite broader economic challenges.
For prospective buyers, Arch Cape offers a unique opportunity to invest in a market that is not only defined by its natural beauty but also by its scarcity. The limited number of new listings, coupled with a stable flow of transactions, suggests that prices will continue to appreciate, making Arch Cape a sound investment for those seeking a luxury coastal property. Sellers, meanwhile, can take advantage of the high demand and strong sale-to-list price ratio, ensuring that well-maintained and well-priced homes will attract competitive offers.
As we move into the final quarter of 2024, the Arch Cape real estate market is expected to maintain its strength, with moderate price appreciation driven by the limited number of available homes and sustained interest from high-end buyers. For both buyers and sellers, the key to success in this market is understanding its unique dynamics—Arch Cape is not a high-volume, fast-turnover market, but rather a place where patience and persistence pay off, whether you’re looking to buy a dream home or secure a significant return on your investment.
If you would like to speak with a broker about Arch Cape Oregon, please contact any of our experienced Home + Sea Realty Brokers.
