Oregon, Wisconsin Housing Market - March 2023

by Jeff Minter

"How's the Market?"

That's probably the question we hear more than anything else. Recently there have been a lot of of opinions on the state of the market so let's boil it down real quick to see what is happening in our local Oregon market with a few key points.

1. Buyer Demand: After a healthy January showing activity is DOWN in Oregon when compared to the average for this time of year. This is an indicator of buyer demand. However, I wouldn't read too much into this as it is somewhat reflective of current price points and the high volume of new construction homes in our market.

2. Available Homes (Inventory): Good news, inventory is UP compared to the last two years. That is healthy as we work to create more balance between buyers and sellers. Bad news, there are only FIVE existing homes available on the market and 4 of them are over $550,000. This creates an affordability issue for many people. The remaining active homes are all new construction.

3. Tips for Buyers: Prepare yourself ahead of time, not when the right house hits the market. Buyers who wait for a house to show up could easily be late to the party this year again. Without being fully preapproved and connected to an agent unprepared buyers will not be in a position to learn about "hidden" inventory, prepared for coming soon homes, write competitive offers, and ultimately win the house they are searching for. Be proactive, not reactive. More on this HERE.

4. Tips for Sellers: It is shaping up to be another great year for sellers, but that doesn't mean you can do whatever you want. Make sure your home is effectively prepared to wow potential buyers online, price your home to get the most qualified eyes on your home, and work with an agent who will market your home to the highest number of potential buyers. Sellers that win in this market do it by increasing the demand and competition for their home not by trusting the market to get them the best possible offer without putting in the other work. More on this HERE.

As always, if you have any questions about your Oregon area home reach out to us at anytime. We love serving our Oregon, WI neighbors.