Daffodils are up…. Finally. I saw a flowering Cherry tree on Monday…. In Portland! (we are slightly behind Portland timing wise.)
I was just up the valley and you can see it pushing up, but not popping…. maybe another week plus for the lower valley, but finally, the spring is arriving.
It’s late this year, and so is the market. Things are moving, and inventory remains exceedingly tight.
Multiple offers are pretty normal at the moment, but I have noticed, interestingly, that my last couple deals did NOT have multiple offers….
If you have a home under $400,000 the odds are good you’ll get multiple offers. If you don’t it means you are pushing the pricing envelope….to the point where someone has to reach to get it….and of course, you only need one.
We are scouring the neighborhoods for listings. All the usual neighborhoods are in vogue these days. The Avenues (close in, just west of the Middle school) remains an enigma. No one lists or sells in there…. We are in year three of below average unit volume in that market.
May Street neighborhood is about average (unit volume wise) but Columbia/Cascade is below average…. The ABC’s are above average, but only slightly. Much of the unit action is in St. Charles and Sieverkropp/Avenues West micro markets, and it looks like this trend will continue into this year.
As for pricing? It’s high, but feels like it’s topped. My forecast remains the same, Tight inventory, very high prices, lots of hustle to get a deal. Many of my clients have now given up and are de-camping to The Dalles. It’s a bummer to lose some of these folks from Hood River, but there are fantastic values in The Dalles, and you can feel in improving sentiment everywhere. I think it will be a break out year for The Dalles, volume and price point wise.
I’d like to give a big shout out to our new younger Brokers in our office, who have done such a fantastic job of learning the Art of Real Estate, and who are building impressive client portfolios by the day! I was reviewing their work this last week, and I’m so impressed with both our Hood River and our Dalles teams. Fantastic work, by the next generation of Real Estate Brokers in our region.
…. And that’s it for April’s view. Sorry to be so choppy, but that’s kind of what the market feels like now, too……
~ Maui Meyer