January 2017 Mt. Hood Sales
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!
