The Mt. Hood real estate market starts summer with many more choices for buyers and a competitive market for sellers. Current inventory sits at 94 residential properties on the market. Twenty came on the market in May and another 22 arrived in June. Buyers have more time to make buying decisions compared to the last couple of years. Sellers are becoming more competitive with nearly one out of three properties making price reductions in the current active inventory.
We have 8.4 months of inventory avaialble pushing this into a buyers market. A balanced market between buyes and sellers is typically in the 5 to 6 month range.
The condo market in Government Camp is flush with thirteen choices available. Most units are in Collins Lake and Grand Lodges. So far, two condo sales in Govy this year.
The Mt. Hood National Forest cabins present great choices with eleven cabins available and three pending under $250,000. We haven’t had this many cabins available in years!
May had a total of six sales. This graph shows the increase of inventory coming on this spring.
With summer arriving the market favors well priced homes and cabins in good condition. It’s advisable if your property isn’t getting shown to quickly make an adjustment in this market. Sitting on the market only ends up with a lower price down the road as buyers believe there is “something wrong” with the property. Pricing in this market is not easy due to the huge variety of homes and cabins. Nothing is “cookie cutter” so it makes it that more challenging.
Here are the RMLS statistics for May and the six sales for the month.
