The month of April showed some market trends that we expect to continue into summer in the Central Oregon Real Estate Market. The number of new listings is on the rise, and sales have remained steady since February.
New Listings
The number of new listings has grown nearly 9 percent from March inventory, which is expected during this time of year. New listings appearing onto the market seems to be a trend in the spring time, as sellers are ready to take the necessary steps to sell their home. It’s a great time of year to get your home listed as plenty of buyers are ready to start making serious offers at the beginning of the warmer season.
Sold Properties
The total number of active listings has grown since February, ending the month of April with 416 active listings. Sales are increasing from February inventory and down ever so slightly from March. The number of sold properties has remained consistent from 162 in February, to 201 in March and ending most recently with 190 in April.
Buyers aren’t slowing down, so now would be a great time to list. With a steady increase in properties to look at buyers are ready to make offers when they find the right property, and less likely to wait around and weigh options. The number of sold homes in April decreased by 6 percent from the previous month, however, it’s still showing a strong market for selling your home, with lots of interested buyers.
The number of pending sales increased nearly 5 percent from March. The higher number of pending sales at the end of April indicates a healthy number of completed sales to be predicted in May. In fact, there have already been 30 homes sold via the first few days of May which could indicate some of the March pending sales are carrying over to May as sold properties.
Competitive Pricing
The pricing in the Central Oregon Real Estate Market is back to pre-recession figures. With the high demand for housing in Central Oregon, we don’t predict that pricing will decline soon.
While pricing is at a record high, it is important to price your property competitively. If a property remains on the market too long because it is overpriced, it may start to get overlooked in a potential buyer’s home search. Price reductions in the Central Oregon Real Estate Market saw an 18 percent decrease over the previous month.
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