THE LATEST AND GREATEST IN OUR REAL ESTATE MARKET!
The numbers do tell, and now is the time to sell!2016 brought with it the lowest inventory numbers in almost 20 years, at 1.2 months. In a nutshell, this means that all 3,381 homes that are currently on the market would sell within 1.2 months. Keep in mind that a balanced market has roughly 6 months of inventory, anything over 6 months is considered a buyers market, anything below 6 months is considered a sellers market. Coupled with historically low interest rates, buyers can purchase within a competitive market, and sellers can set higher prices. Since December the closings have surged 21% past the closings posted in December 2014 and 25.9% past the closings posted last month in November 2015. This was the strongest December for closings in the Portland metro area on the RMLS record, dating back to 1992.
Average and Median Sale Prices
From 2014 to 2015, the average sale price rose 6.5%, from $333,000 to $354,500. With inventory numbers continuing to drop, expect similar trends in 2016.
The average time it currently takes to sell your home will be roughly 56 days. Some homes fly off the market within a week, some may take up to a few months to sell, it all depends on location, condition, and timing. With such low inventory rates, we know that selling your home will happen faster now than it has since 1999.
For more information on selling or buying in this market contact me to go over all your options
If you would lie more information on selling or/and buying in todays market please don’t hesitate to call, email, or text.
IT’S A GOOD LIFE!!
Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES
MASTERS CIRCLE, Diversity Specialist, HOWNW, CSA-Certified Staging Agent
Oregon First , Direct 503.380.9634
View ALL available Houses on the market on my website
Licensed in the State of Oregon
Five Star award recipient 2011-2017 honoring the top 7% of real estate professionals in Oregon.
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