The story for the current market is little available inventory.
It’s a seller’s market!
Fewer sales closed in the 12 months preceding January 2015 than in comparison to the 12 months preceding January 2014. It’s a modest drop and appears to be a direct result of lack of available homes for buyers to purchase. Inventory is down a whopping 38% over this same time a year ago. That is a substantial difference. Average sales price is up 1.3% a modest number, especially when you factor in the average price per square foot is the same at $157.00/sf, it’s the size of the average home that has increased, up to 1927sf from 1903 a year ago. Average days on market has increased a modest 3 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.