Moving toward Autumn and the new school year, it’s reasonable to expect a somewhat slower pace for Oregon home sales. That’s because many, though certainly not all, 2014 homebuyers have purchased by now.
Due to considerations like weather and school, a sizable number of Oregon homebuyers target September as a good date to have completed their move. Given such timing, plus a shift in mood and the dynamics of supply and demand, you might consider this interaction between buyers and sellers as a bit of a dance. And at the end of it all, there is even a key change, as the new owners move in.
The onset of school all by itself brings “empty-nesters,” relocating transferees, singles, and young families to the forefront as larger potential portions of the buyer pool for the remainder of the year. For sellers, Autumn and Winter can bring fewer, but a possibly higher percentage of motivated buyers, along with less competition, when compared to Spring’s fast-paced real estate tempo. During this time of year, buyers routinely enjoy a less frenzied pace, with reduced competition, too.
The average market time for a Portland area home was recently 57 days, with the average market time for a Salem area home at 93 days. So as the tempo moderates in coming months, expect, even enjoy, the slow dance ahead.
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