Happy March Everyone….
It’s not spring, but everything is pushing hard…..spring is right around the corner…..And with it comes some more inventory…..hopefully.
So far, we are a little slow out of the gate in terms of overall activity. I was reviewing the Gorge market performance with one of my vendors, and he noted that the activity in the market is down by over 50%. January, was solid, February was…..simply quiet.
I think folks will come back online here as the weather warms up, so we’ll have to wait and see.
Prices, remain astronomically high. There are also no buildable lots (or very few) available in our market. Those prices also remain aggressive.
Some inventory relief appears to be on the way, however. In Hood River, Barrel Springs and the “Kitts/Marchese” annexations are underway, and appear to be moving through the city planning. Phase 3 (It think it is) of the Sieverkropp addition is underway, and appears to be attempting to get platted and released in this selling season (June timeframe) I think they’ll
Given the later availability of lots (Q3 and Q4 of this year), I’m feeling like a bunch of our business will be pushing out towards the end of the year, when folks can buy a new house, and will then sell their existing homes. It appears to be a larger part of the market right now, folks who are “trading up” and selling, for good returns to the new arrivals in town, most notably, INSITU employees, (rumored to be hiring 300 more employees) and other employees of other vendors that supply materials to INSITU.
Prices high, inventory tight. Lots of new, young Brokers on our team, out there working hard for a living. More data next month, as we move out into the actual sales season…. I’m excited for 2017!
~ Maui Meyer