February Market Stats from RMLS o the Mt. Hood Area
Here are the numbers for February 2016 sales and listings recently released from RMLS. Inventory increased by 23 properties for the month and pending sales were up a whopping 77.8% compared to the same time in 2015. This shows buyers are out early this year with minimal properties available and increased demand. The market time is reduced for this past month down to 73 days. Since the start of the year pending sales are up 45% from last year. Homes under $250,000 are seeing bidding wars.
One challenge for today's conventional home sales are getting appraisers to come to our area. Since we are not a cookie cutter community of homes many appraisers find the mountain more work, charge higher fees, and some turn down the jobs completely delaying the process. Getting to the thick of spring and summer hopefully will not delay our closings because of this but it potentially could.
