All summer long I reminded folks that we are in a “shifting” market. Well don’t let your foot off the clutch just yet. We continue to shift and move and frankly, find balance.
What’s down since last September?
- New listings -1%
- Pending sales -9.5%
- Closed sales -14.6%
What’s up?
- Days on market 45 (+7)
- Months of Inventory 3.1 (+0.8) – Note this is a significant milestone. We have not had over 3 months of inventory since the first quarter of 2015.
- Interest rates
Patience, dialed-in listings, and realistic pricing are what will help the market continue along. Pricing a property competitively in a shifting market where comps aren’t exactly comps anymore is a skill and a frankly an art form. It also happens to be my specialty – I have earned the Pricing Strategy Advisor designation from the National Association of Realtors. What does that mean? Mostly it means that I’m a research nerd. I know how to adjust when needed. I know when to be conservative and when going outside the box will fly with the current market conditions.
* * *
Danni Duggan and Charles “Bud” Garrison | Oregon Brokers | Premiere Property Group, LLC | Licensed in Oregon | 503-719-2279 | danni@dannipdx.com
Our real estate practice is built on a foundation of compassion, intelligence, wit, and a genuine desire to help our clients achieve their goals.
If you are looking to buy or sell your home in the Portland area, we would love to work with you. If you are outside the state of Oregon, let us recommend one of our most trusted Realtor colleagues elsewhere in the country.
Curious what your home might go for in the current market? We have a home valuation tool that will ballpark it for you.
Remember that no computer model is a replacement for an actual Competitive Market Analysis provided by a trained Realtor. Contact Danni if you would like a free analysis of your home.