Hood River Real Estate Market News and Updates
Happy end of summer, everyone!
The bump came slightly early and was quite intense there for a bit. Apparently a few more people held off purchasing than I had thought.
Sellers were ready. Very little negotiation going on. It now appears that the market has shifted again (slightly) to the Sellers. Even though we are headed into the fall, inventory remains low (not tight, just not probably the same as prior years). Last year was about 8.5 months of inventory, I’m thinking this is only slightly less, perhaps 8, as opposed to earlier this Summer when it was closer to 7 months of inventory.
Prices have solidified and have moved up a touch. We are now, probably, officially back at the level of the heady days of 2008, just near a decade later. Kind of feels like reverting to the mean – sometimes up, sometimes down, but overall increasing just ahead of inflation. Isn’t that the old rule of thumb?
I will say that this last push has been at a much higher price point, however. Nearly all the action is up over $500 this time around. We made another list of great places to live, and I have noticed that the make-up of our clientele over at Celilo has matured slightly. (I call it the Façonnable Index) Town is maturing, and so is the clientele.
Our housing issues remain, however, and there’s a lot of talk about how we continue our run without the proper housing in place for staff. Fall is a great time to work on new initiatives, and so who knows.
What I do know is that by next spring, we’ll have land inventory again – a welcome relief for the coming few years.
~ Maui Meyer