The Improving Market Continues.
Inventory in the Corvallis Real Estate market continues to decrease while buyers continue to purchase. Buyers in the market are looking for the perfect home and there’s not much for them to choose from. Simple supply and demand!
That means, it continues to be a seller’s market!
Number of closed home sales is up 98, a 15.2% increase in the 12 months preceding August 2015, as compared to the same time frame ending August 2014. Lack of inventory is the biggest issue and continues to be an on-going situation. Available homes for sale (inventory) is down a significant 40.5% as compared to month end August 2014. That is a huge variance. Average sales price is up a modest 2.2%. Average days on market has decreased a mere 8 days. Insignificant in the big picture.
It’s good to have an understanding of market trends and what’s happening in the market at any given time. However, it’s not a good idea to try to apply those averages to an individual property. If you’re thinking of selling or buying, get in touch. I’ll help you put the market into perspective in reference to your individual home or situation.
Data compiled using information from the Willamette Valley Multiple Listing Service.