Metropolitan Statistical Area (MSA):
Astoria, OR is a Metropolitan Statistical Area (MSA) comprising counties including Clatsop County.
There is no doubt that the real estate market in the Astoria, OR metropolitan statistical area (MSA) has been on a tear lately. Home prices have been rising steadily for the past few years, and there is no end in sight. The combination of low interest rates and a strong economy has created perfect conditions for a housing boom.
The trend started with buyers snapping up properties that were undervalued during the recession. These early investors were rewarded handsomely as prices began to rebound. As word spread about the potential for profits in the Astoria real estate market, more and more people began to invest. This increased demand has driven prices even higher.
The current situation is unsustainable and there will eventually be a correction. However, it is impossible to predict when this will happen. In the meantime, anyone thinking of buying property in Astoria should do so sooner rather than later. Prices are not going to stay this high forever, but they are likely to continue rising in the short-term.