The numbers are in! Last year was a very good year in real estate. 2015 projections are more of the same. The average price point was up a whopping 7.2% and the average market time (how long it takes to sell) is about 70 days. WOW! People, these numbers are fabulous! We are currently holding steady in a seller’s market. That is not likely to change in 2015.
You determine what kind of market you are in by the “month of inventory” on the market. That means how many months would it take to sell all of the available property for sale if non came on the market. A balanced market is considered around 6 months of inventory. Under 6 month is a seller’s market, and over 6 months of inventory is considered a buyer’s market. Right now we have 2.3 months of inventory in the Portland/Metro areas. We are in a strong seller’s market right now. Every Neighborhood is different. Some Neighborhood appreciate (increase in price) faster than others. Call me and we can go over yours or the ones you want to buy a property in.
Real Estate is cyclical. We see the swings of real estate in the price changes. We just came off a downturn of almost 10 years (crash of 2008). From all of the projections I have seen the market looks to be on a steady incline for the next 5 years at the least. This is baring any National or Global catastrophes of course.
If you kicked yourself the last time the market prices were low and didn’t “buy in” or make that change your time in now, in 2015. Call, email, or text me to go over the opportunities for you in 2015!
IT’S A GOOD LIFE!!
Rachel Sheller-Principal Broker, Oregon first Direct/Text friendly: 503.380.9634 E: firstname.lastname@example.org