November real estate forecast shows drop in new listings and stabilization of home pricing
The real estate market has slowed down slightly for the holiday season, from an eventful fall market. It continues to be a seller’s market in the Central Oregon Real Estate Market. Moving into the new year the market promises to be a great time to list a property.
Fewer listings and inventory
Typical for the holiday season, fewer new listings are coming onto the market in Central Oregon. With fewer listings on the market, November still saw more properties go into pending. With more pending listings than new listings coming on to the market, there were lower property inventory numbers.
Novembers inventory was lower than the previous three months. Even with a lower inventory, more homes sold in November than in October, representing great activity in the Central Oregon Real Estate Market.
The number of price reductions has dropped dramatically from previous months, with pricing stabilizing in November.
With a limited number of listings, it’s a perfect time to sell. Getting your property on the market at this time would be advantageous. Fewer listings could help to highlight your property. This trend is expected to continue through the new year.
Property owners that are thinking of selling should take advantage of the low inventory of property competing for available buyer’s.
We can expect the trend of the seller’s market to continue. Fewer listings provides for a better market for the seller’s with fewer properties to choose from and consider.
The beginning of the new year is a great time to get a property listed. We can expect the trend of the seller’s market to continue, with continued high buyer demand for properties. Listings that hit the market early in 2017 should have significant activity of serious buyers’ wanting to make a purchase.