In Oregon, the inventory of homes active on the market has remained low through December and January. For Sellers listing their properties at $399,999 or lower, it means lots of showing activity! However, many home Sellers are forestalling listing their property just yet due to limited inventory to choose from for relocating. However, for Sellers looking to sell quickly or who have already identified a property to purchase, it will remain a Seller’s market until inventory increases in the following months heading into spring.
While residential listings remain low, Buyers looking to build still have extensive inventory to choose from in the form of vacant/rural land listings. Currently, the market is showing much more activity on land listings than has been seen in the past year. This interest will likely abate somewhat when more residential listings come onto the market for buyers to choose from.
Given current inventory and market activity, now is a fantastic time to sell both residential and land listings, especially while inventory remains low and Buyer activity continues to grow stronger. For Builders and Investors, new construction promises an excellent return in 2016 as Buyer demographics are likely to be increasing for this share of the market. New construction in rural areas with easy access to main commuter routes is forecasted to see an increase in Buyer activity as well, with communities such as Gaston Heights offering more affordable housing for employees in the Portland-Metro area.
Furthermore, the 2016 real estate market is expected to continue the steady growth seen through 2015, resulting in a continuation of solid sale prices and growing home equity for home owners.
If you are looking to sell a property, give our listing team a call today and learn more about what you can expect in terms of sales price and time on the market!