This a quick overview of the April 2019 Hood River County Real Estate market. The average* sales price has DECLINED by 3.8% compared to April 2018. The median* sales price has increased by 2.1% compared to April 2018. The decline in average sales price is driven by higher priced homes staying on the market longer, while lower priced homes generally continue to sell sooner.
Home inventory for April 2019 decreased to 4.4 months, a 10% decrease from March 2019 2018 (4.5) and a 19% increase from April 2018 (3.7 months inventory). Looking back 2 years, the April 2017 home inventory was only 1.6 months. This is a 175% increase in home inventory for April 2019 compared to the same period 2 years ago. Inventory has improved significantly over the last two years if you are a buyer. This is shown by the average 102 days on market (DOM) for the homes sold in April 2019. The average DOM in April 2018 was 72 days; this is a 42% increase in DOM since last year, reflecting the increased inventory. A normal market typically has 6 months of home inventory so Hood River County is still a seller's market, although buyers have more choices.
Sellers, don't price your property as if it was 2017 or 2018, your home could languish while buyers purchase homes priced for today's reality.
If you would like to look at the market for your specific home, please email me or call me at (541) 402-1219 or (509) 540-1309.
*Note - The average and median sales prices are calculated on a rolling 12-month basis. This smooths out the monthly variability and provides a truer trending result for the time period being reviewed.
For additional information on the real estate market in Hood River County and Wasco County, please follow these links:
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