Portland Oregon Real Estate Market Update - August 2021
Okay for this month’s Real Estate Market Update we are going to focus on two topics to make it a bit more interesting:
How a more balanced market could be better for both buyers AND sellers.
And we didn’t get into it too much in the update video, but our other topic is how the fourth wave of covid will affect the market. (I’ll shoot another video on this soon).
Okay for the first topic, while this market is highly beneficial for home sellers, it has also lead to a lot of sellers being hesitant to list their home, in the fear that they will not be able to find their next property to move to.
So if our market starts to see a shift, and we see homes sit on the market a bit longer, it could actually help a lot of people who are thinking of selling find new motivation to pull the trigger and do so.
Having the knowledge that yes things won’t be as advantageous when you sell (you will still get a great price for your home, you may just have to deal with a few more contingencies), but when you go to buy it might not be as difficult and you can do it within a shorter time.
This is obviously great news for buyers as well, as more homes on the market means more options and less competition.
For the second topic, one we all are tired of talking about, how a fourth wave of covid will affect the market, here are some notes:
After a short period of time without them, we are back to wearing masks at home showings.
In terms of how a rise in cases and a return to mandates will affect the market, time will tell.
We were hoping for a recovery in the market as things were seemingly improving, and as of now, we are hoping that will still be the case.
This time around we all no more as to what to expect, people are vaccinated at high numbers and for the most part are very willing to wear masks in this area, so it shouldn’t create the same hesitancy in home sellers that it created back at the beginning and throughout the pandemic.
If you would like more information and to hear all the market stats, watch the video above.
If you would like to talk further about your future home buying or selling needs, we are here to help. Contact us HERE or text 971.361.6114 to set up a consultation.
