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Here are April's sales in the Mt. Hood area. We totaled 17 properties closing for the month. Inventory is dwindling. Some new properties should be coming available as we get closer to summer.
Numbers are out for April from RMLS for the Mt. Hood area. Minimal inventory has caused pending sales to plummet compared to last year at this time. Although common for the Portland metro area, many properties that hit the market have multiple offers and bidding wars. Who knows what will happen over the summer. Stats below shows an average 12% price change from year to date. With little inventory this number tends to be skewed compared to other areas but we expect prices to rise due to supply and demand.
At the time of this report we had 42 active listings but currently on 26 properties are for sale.
February sales on the mountain hit 15 with six of those properties in Government Camp. Four of the Government Camp sales were for condos. This amazing ski season has totally revived the Condo market in Government Camp after a drought of poor snow seasons.
Two Mt Hood National Forest cabins closed and the inventory of cabins is still sadly lacking at this time. Perhaps sellers are waiting for summer to roll around after this challenging winter of snow decreasing accessibility.
Take away the condo market and we only have 32 single family homes for sale today. Just over a third of those homes are in the Government Camp area which brings about 19 homes available in the higher populated Welches, Rhododendron and Brightwood area.
The pervasive housing crunch in Portland and our area has created a problem for renters and buyers seeking their first home as prices continue to edge upward due to limited supply.
When 22% of your available homes for sale are under $300,000 you know your choices are limited and affordable housing is quickly out the door.
Mt. Hood inventory is under a three month supply creating a sellers market from top to bottom.
Here are February sales:
Residents and property owners in Welches, Government Camp, Rhododendron and Brightwood may enjoy this local conversational meeting called Coffee with a Cop on March 24 at the Dragonfly Cafe in the Mt. Hood RV Village. Details below
Now that we are heading into spring after the pretty harsh winter of snow and storms, limbs are getting picked up, yards are looking better and trees are getting trimmed. The last March snow storm was a surprise for many but the mountain is getting cleaned up!
February sales that closed were mostly a result of transactions put together in 2016 with a total of 16 residential sales.
Inventory is super low right now. We only have 46 homes currently on the market and 11 of those properties are under $300,000! Price per square foot is inching up to around $200. You can see the pending sales were down 25% compared this month last year. The average sales price is now $313,000 for 2017. This should be an interesting year as we head towards summer!
January stats show nineteen sales closed for the mountain. The Government Camp market dominated with three Condo sales including Barlow Pass West, Edelweiss and one Collins Lake unit and three single residential units closing from $395,000 to $550,000. No doubt this winter's stellar snow amounts helped drive that market which had been slower in prior years due to poor ski conditions.
The second largest area of sales were in Timberline Rim. Four homes closed in January. We still have many buyers looking for Timberline Rim homes due to their affordability and amenities. Homes in Timberline Rim range from around $180,000 to $400,000 and is the largest subdivision in the area. Originally offered in the late 1960's it's been a big favorite for vacation home owners and full time residents. Paved roads with sewer and water plus swimming pool in the summer and tennis court make a great neighborhood setting.
Minimal inventory could slow sales down this year but hopefully as we near spring things will pick up and satisfy the demand.
The multiple listing statistics are out for January 2017. Inventory is unbelievably low right now with only 45 active listings. Likely, most of the eighteen sales for the month were cumulative from October, November and December pending sales. You can tell inventory is low with the average sales price climbing to $307,600.
Homes under $300,000 are in highest demand frequently having multiple offers on the table. Buyers are out to find their dream home before interest rates start to move up this year cutting into affordability. Here are the projections from MBA, NAR and Fannie Mae.
Sellers should consider getting their homes on the market today with minimal competition right now. As we head towards spring, the majority of sellers will place their home on the market in April, May and June creating more competition!
The market for lots and acreage in the Mt. Hood area stretching from Government Camp to the East end of Sandy has improved substantially over the past four years. Just four years ago in 2013 the mountain saw only ten lot sales. The past year saw thirty four sales!
Several of our local subdivisions, Timberline Rim, Zig Zag Village and Windtree Loop covered a quarter of those sales. The Timberline Rim and Zig Zag Village lots are easy for building with sewer and water. Windtree Loop, a gated community off of Barlow Trail Road, has water but requires septic installation. Larger lots in a gated community have commanded high prices comparatively.
Parcels greater than an acre faired well in sales last year Eight sales over an acre sold between $85,000 to $269,000. Most of those properties had some sort of river or creek front running through the land. Most were four acres or more.
Government Camp had only one lot sale in Alpine Crest, the subdivision on the South side of Highway 26 near Summit. That price hit $185,000. There are no lots currently available in the Government Camp area but a couple of acreage parcels are for sale near Wapinitia beyond Snow Bunny and Trillium Lake turn offs.
The Mt. Hood National Forest, BLM lands and large timber parcels surrounding most of the private land of the Mt. Hood area. There is limited land available. If you want to build today or in the future, secure your parcel now.
Check out all Mt. Hood land for sale
Set up your own search criteria for lots, ac acreage or homes!
The Government Camp real estate market had 19 sales in 2016. The majority of these sales we're condominiums at Collins Lake totaling nine sales. The average list price was $311,815 and average sale price hit $302,815. The price per square foot was $244 and the cumulative days on market hit 140.
There were two additional Condo sales. One at Thunderhead Lodge and one at the Edelweiss Condo Complex. Thunderhead Lodge requires all cash transactions due to their ‘condotell” status. Edelweiss units are bank financeable.
Beyond the condo sales, eight homes sold in Government Camp. At the low end a sales price of $325,000 and at the high end, $699,000. This was the highest priced sale in the Mt. Hood area for our RMLS area 153.
Mt. Hood sales totaled 211 for residential sales in 2016 so the Government Camp market makes up about 9% of sales. More affordable properties are available in Welches, Rhododendron and Brightwood where home under $300,000 make up 70% of our sales.
Here’s a handy link to check current Government Camp Condos.
Here’s a handy link to Homes for Sale in Government Camp.
You can always bookmark these links or sign up to receive notification when new properties hit the market on my website. Just start your search and save it with your email address!
Displaying blog entries 561-570 of 731
