WOW! We ended 2016 in a BANG! The real estate market is really ‘up and humming!’ The market was a strong sellers market last year, but with the low-interest rates combating the rising prices the market saw a lot of movement last year, enabling many to jump in and take advantage of the great opportunities.
We ended out the year with 1.3 months of inventory (6 months is a balanced market) making it a seller’s market. Think-low inventory, high demand.
The average price jumped 11.5%, which is HUGE!! 3%-5% is a really good appreciation, but double digits is amazing! This appreciation number is an average. Some Locations/Neighborhoods saw lower or higher appreciation rates.
The market time (how long it takes to get an offer on your house) is hovering at 42 days. This is assuming your house is fairly priced. Believe it or not, there are homes that are overpriced and not selling, but the reasonably priced (reasonably priced for its location and condition) homes can expect to receive and offer in the 42 day average amount of time, depending on the property & location.
2017 is forecasted to be another really good year in our Portland-Metro real estate market (This includes all our suburbs). The appreciation is expected to be a little lower but still good. Heck! Where can you get even 2% return on your investment anymore? Real Estate! That’s where!
A few of the factors that make 2017 appealing to sellers AND buyers is Interest rates are holding steady right now, FHA fees are reduced, we have positive appreciation, and more homes will hit the market very soon. Time to make that move….or “flip” if you’re so inclined!!
If you are thinking of making that move this year, please call, email, or text me for current information. This will be a fabulous year to make the move! I’ll help you get the very most for your property and help you find the perfect property for you. Call me! you’ll be glad you did!
Also, I’m also one of the very few realtors who are a “stager.” I’ll help you use your existing stuff to stage your home. Staging really pays off on in increasing the ultimate sales price. IT WORKS!
***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***
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, Realtors
Direct 503.380.9634, Email- firstname.lastname@example.org
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.