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Oregon Real Estate: Breathtaking

January 15, 2016 By Roy Widing

There are many possible words to describe people, places, things and events. A recent shift in Oregon real estate brings to mind the word ‘breathtaking.’ And while that’s a term normally reserved for the Grand Canyon or certain Hollywood starlets, it also conjures the notion of astonishment, breaking fresh ground, entering a new phase, being out of the ordinary, or of something unique recently discovered.

Breathtaking but not Oregon real estate. Film star Ingrid Bergman (1915 - 1982)
         A different kind of ‘breathtaking,’ unrelated to Oregon real estate. Swedish film star Ingrid Bergman (1915 – 1982)

Rarity Underscores Breathtaking
Given the new and dramatic change in a key Oregon housing factor, what we’re now observing in regional housing trends is ‘breathtaking’ to many real estate professionals. One reason is because the last time we saw a similar shift was clear back in the 1990’s, nearly two decades ago.

Oregon Housing Inventory
‘Normal’ real estate markets are calculated in months of supply and typically range in the neighborhood of 3 to 6 months of housing inventory. Remember that 3 to 6 month range, then see where we are now:

Oregon Real Estate, Oregon Home Inventory, Oregon Homes, Oregon Casas, Oregon Realty, Oregon Property, Oregon Housing, Portland Homes, Portland Oregon, Portland Properties
    Greater Portland Home Inventory

Simply put, this new data indicates that where things sit today, greater Portland would be ‘out of homes’ to purchase in a mere 36 days. And not even greater Salem, which routinely sees higher inventory levels than greater Portland, has escaped the drop:

Oregon Homes, Oregon Real Estate, Oregon Properties, Willamette Valley, Salem Homes, Keizer Homes, Oregon Homeseller
     Greater Salem Home Inventory

What This Means
Could these current low figures significantly increase by next month? Certainly. But they could also drop even lower. For now and with fewer properties available for purchase, such drops in an already-low home supply routinely bring with them a rise in prices. This further stokes a ‘seller’s market.’ 

Advantage: Sellers
With both major regional housing markets in such short supply, now could be the time to consider selling. A seller’s market is typically the best time of all to sell real estate. 

Willamette Valley, Willamette Valley Real Estate, Willamette Valley Oregon, Willamette Valley Homes, Willamette Valley Properties, Willamette Valley Realty, Willamette Valley Real Estate
Click for Portland Report

In addition, interest rates remain near all-time lows. This makes your property even more attractive, since buyers can afford ‘more house for less money.’

Willamette Valley, Willamette Valley Real Estate, Willamette Valley Oregon, Willamette Valley Homes, Willamette Valley Properties, Willamette Valley Realty, Willamette Valley Real Estate
   Click for Salem Report

It’s Your Move
For more information about the local market near you,
click here for the latest home figures around the Portland metro area and click here for new housing stats on the Salem metro area. Each report has specifics on page 2 for your Oregon town or neighborhood. 

Thinking about selling your Oregon home or other real estate? Contact Certified Realty using the convenient form below for a free consultation on what your property could sell for in today’s exciting real estate market.

Filed Under: Oregon Home Supply, Oregon Homeseller, Oregon Homeselling, Oregon Housing, Oregon Housing Data, Oregon Housing Inventory, Oregon Properties, Oregon Real Estate, Oregon Real Estate Market, Oregon Real Estate Market Data, PDX Home, PDX Homes, Portland Home, Portland Homes, Portland Property, Portland Real Estate, Real Estate, Selling Oregon Real Estate, Selling Your Oregon Home, Willamette Valley, Willamette Valley Homes, Willamette Valley Oregon, Willamette Valley Properties, Willamette Valley Property, Willamette Valley Real Estate, Willamette Valley Real Estate Market, Willamette Valley Realty Tagged With: Oregon Home Inventory, Oregon Homeseller, Oregon Homeselling, Oregon Housing Inventory, Oregon Properties, Portland Real Estate, Portland Real Estate Inventory, Sell My Oregon Home, Selling Oregon Home, Willamette Valley, Willamette Valley Homes, Willamette Valley Property, Willamette Valley Real Estate Inventory

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