How’s the market? Well, that always depends. Are you buying? Selling? Both? Neither? What’s your price point? Where are you looking? These all play into the answer that’s most meaningful for this question.
Since we love our town we keep the focus on Oregon and the unique aspects of our local market. Here’s the current state of the market in Oregon as we begin the 2019 market year.
1. Rates have dropped back to less than 4.5%. We haven’t seen this in the last few months as they recently jumped to over 5%. This is a welcome change for home shoppers and should continue to spur a large buyer pool.
2. Oregon had 24 active single family homes at the end of December 2018. This is down over 40% from both November of this year and the same time last year. There is little competition for homeowners looking to sell today but this will change quickly as we head closer to our spring market.
3. Only 2 properties are available in the $400,000-$500,000 range and both are new construction. Homeowners looking to sell in this price point should be in a great spot provided their home is still priced appropriately.
Remember each situation is unique. This means even though there’s little competition it doesn’t necessarily mean your home will sell quickly. Likewise, just because there are few options to choose from doesn’t mean you won’t see your dream home pop on the market in the next few days so make sure you’re ready.