This month we’re welcoming a brand new Actual Property insider to our group to deliver you the Actual Property Market Replace. Samantha Alley is the Principal Dealer for The House Group of RE/MAX Integrity. Samantha confirms that the aggressive market that we now have seen during the last month might very properly proceed by means of 2022. In Albany, the typical gross sales value this month is as much as $413,587 and as much as $545,348 in Corvallis. Median residence costs fell to $390,000 in Albany, and rose steeply in Corvallis to $490,235. In Albany, common days on market rose barely to 63 days, and climbed in Corvallis to 102 days.
In Lebanon during the last 90 Days, the typical residence value rose to $391,291, with the median gross sales value rising to $349,900. Properties have spent a median of 74 days available on the market in Lebanon during the last 90 days.
The variety of listings available on the market fell to 21 listings lively within the MLS in Albany, which is beneath a half of a month of stock. There are 47 lively listings in Corvallis, for one and 1 / 4 months of stock. In Lebanon there are 19 lively listings, equaling barely greater than half a month’s price of stock
The above statistics have been supplied to The Advocate by Samantha Alley of The Home Team for RE/MAX Integrity. Right here’s what Samantha has to say in regards to the present market.
“The brand new 12 months is right here and the variety of homes which can be accessible may be very low. This limits the alternatives for consumers, making it troublesome for them to select from restricted choices. Final 12 months there have been many new building listings that went beneath contract through-out the 12 months. Many of those properties are nonetheless not accomplished. In Corvallis there are extra homes beneath contract than have offered within the final three months. The primary query I get proper now’s: ‘Ought to I wait till the market drops to purchase a house?’ The distinction between our present market and the one in 2006 is stock, at the moment there was an abundance of stock and a reducing demand as a result of decrease variety of first-time consumers. At present there isn’t any buildup of latest building properties and there’s an abundance of first-time consumers which can be coming into the market. Many millennials delayed their buy of a house plus the following technology is beginning to buy. This creates a bigger demand than we now have seen up to now. The prediction for this 12 months is a robust vendor’s market with a aggressive ambiance for consumers by means of the approaching 12 months.”
Verify in subsequent month to see the place the market goes from right here.
By Kyra Younger
