By Living Room Realty, June 25, 2018
In the past couple of years, the real estate market has been anything but boring. Multiple offers, houses selling for $50k over asking, waiving inspections, these are just a couple of hoops buyers have had to jump through in order to buy a house. It’s called a “seller’s market”. As new construction projects become finished, and more out of state investors back away from Portland due to recent policies forcing landlords to pay several thousands of dollars in moving fees for tenants in some circumstances, the supply is quickly catching up with the demand. This is a shift towards a “buyer’s market”. So what do you call the time in between? BALANCED. On my most recent sale in Beaverton, the scenario was:
Days on Market: 9
Offers: 1 (full ask, not a dollar more or less)
Repairs: Negotiated through credit, everyone thought was fair
Of course, the real estate market like most industries is fluid and moves around many variables that include interest rates, local economic health, etc. But for now, I think we can all appreciate a little BALANCE before the next shift.
