Market Action Reports – November 2017

Friends and Clients,

2017 is slipping into the history books and a New Year is upon us. Attached are the reports for November; the December close-out will be coming in about 2 weeks or so. Most would agree with me that the cold weather, and yet plentiful sun this year is much better all the way around over last year’s dark, wet, cold, and endless winter.

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2017 was a good year for real estate; prices continued to rise consistently so the sellers who were brutalized during the 2007-2013 years have much to be grateful for. The leveling out of our competitive marketplace is a bonus for buyers to be able to buy with some negotiation, but they still must deal with high prices (but still extremely low interest rates). Our ‘year-to-date’ statistics have consistently been lower for this year than previous years, but modestly. The more balanced and sane marketplace is welcomed.

Anecdotally, in our area we are having a very good 4th quarter, much different than last year. We expect 2018 to be a very good year as more and more people push-out our way to escaped the condensed packing of people into Portland and the congested streets. Our Newberg-Dundee by-pass has had her ribbon-cutting, now we need to get it opened for traffic to improve our flow of cars and trucks. We also hope to see a return of the desire to move ‘out to the country’ to enjoy space and beauty instead of the 10 year trend for ‘urban living’. While few want our area to pack tight, we do want there to be enough people to buy our rural lands and farms. I also attached an article I give to our sellers about these very issues.

During January, we will be digesting the annual numbers; it is also the beginning of the listing season for sellers. Many people think that March or April would be the time to list, but the reality is that we get a surge of searchers on our websites and sellers starting the process of listing for sale in January. Why? Because weather-permitting, buyers begin to come out in droves beginning January 2. During the holidays they have had time to think and talk about next year’s plans and they begin their search in earnest as soon as the New Year hits. Remember, those who close homes in March or April, were looking and making offers in January and February!

From all of the great Real Estate Brokers at Bella Casa Real Estate Group, we wish you a very healthy and prosperous New Year.

Best regards,

Randy

Randy McCreith, Principal Broker
Direct: 503-310-9147
Randy@TheBellaCasaGroup.com