The Newberg-Dundee area offers a wide variety of housing opportunities for its residents. The median sales price over the last twelve months is $230,000, which is a 7.2% increase from the prior twelve months. There were 308 home sales during the last twelve months compared to 365 home sales during the prior twelve months for a 16% decrease in sales volume. For 2010, there were 35 permits issued for new residences compared to 116 permits issued in 2009, for a decrease of 70%. However, currently there are 48 homes on the market built in 2009, or later. Thus, there is a selection of new home inventory throughout the market. The high point of the market for new construction was in 2005, when 399 permits were issued for construction of new residences . Currently Newberg-Dundee area home rentals average $1,412.00 per month, compared to Portland, Oregon’s average of $1,629.00 per month.
Springbrook Properties is a mixed-use project in the northeast section of Newberg that developed The Allison Inn and Spa, an 85-room luxury resort located on the outskirts of Newberg. The 433-acre project will also offer 50 acres of parks, 13 acres of commercial property, nearly 33 acres for park sites and about 265 acres of residential land. The project will revolve around a centrally located village center, which will include a chapel for weddings and a village green suitable for picnics and farmers’ markets. The 1,261 homes slated for inclusion will include condominiums, townhouses, duplexes and single-family homes. For more information on the residential village project visit the developer’s website.