Real Estate Market

July Market Statistics Update

July wrapped up with 11 closed sales in our area. The market continues to show strong buyer competition, with seller concessions, frequent price adjustments, and many buyers taking a cautious “wait and see” approach while watching for interest rate reductions.

The upper end of the market showed some softness, with no sales closing above $725,000. Activity was strongest at the lower price points, with 7 homes selling under $400,000 and 3 of those under $200,000.

Pricing adjustments are on the rise—20 reductions in the past month, including 9 just this past week. Many sellers, facing fewer showings, are adjusting more quickly in hopes of securing a sale before winter slows activity further.

Marketing time is increasing. July sales were nearly 3 months on average. 

The eleven sales are listed below.

End of Summer Market Update

As we wrap up summer, this year’s market has felt slower than usual. We’re seeing more homes available, and that shift is giving buyers more options (and a little more leverage) than we’ve seen in recent years.

Mortgage rates are still hanging in the 6.5% to 7% range, which is keeping some buyers on the sidelines. Most experts believe we’ll see a slight improvement—likely settling between 6% and 6.5%—but the big question is when. For now, many buyers are in “wait and see” mode.

On the seller side, higher inventory means more competition. Price reductions and concessions (like covering closing costs or offering rate buy-downs) are becoming common tools to attract buyers. Sellers who adjust quickly to market realities are having better success than those holding out.

Here’s what we’re noticing:

• Upper-end homes (above $725,000) have been moving slowly.

• Entry-level and mid-range homes are still the most active, especially under $500,000.

• Homes that are priced right and show well still sell—but buyers are quick to pass on anything that feels overpriced.

• Economists don’t expect rates to fall dramatically anytime soon.

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• Lenders often remind buyers: “Date the rate, marry the house.” In other words, find the right home now, and refinance later when rates improve.

• Market analysts are clear—buyers are more price-sensitive than ever, so the right pricing strategy is key.

What this means for you:

• Buyers: More choices, more room to negotiate, and less competition than in the past few years.

• Sellers: Pricing smartly and considering buyer incentives will make all the difference heading into fall and winter.

Sale Fails on Mt. Hood and Nationally

More Contracts Are Falling Through. Here’s How To Get Ahead.

When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you.

This June, 15% of pending home sales fell through. That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an increase. And it’s one you don’t want to have to deal with. 

The key to avoiding this headache is knowing what’s causing the issues that lead to a buyer walking away. A recent survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) finds that agents reported the #1 reason deals are falling apart today is stemming from the home inspection (see graph below):

Here’s why. With high prices and mortgage rates stretching buyers’ budgets, they don’t have a lot of room (or appetite) for unexpected repairs.

Not to mention, buyers have more options to choose from now that there are more homes on the market. So, if the inspection turns up a major issue, they may opt to walk away. Afterall, there are plenty of other homes they could buy instead.

Or, if the seller isn’t willing to tackle repairs, a buyer may back out because they don’t want the expense (and the hassle) of dealing with those issues themselves.

The good news is, there’s a way you can get ahead of any unpleasant surprises as a seller, and that’s getting a pre-listing inspection. It’s not required, but the National Association of Realtors (NAR) explains why it’s helpful right now:

“To keep deals from unraveling . . . it allows a seller the opportunity to address any repairs before the For Sale sign even goes up. It also can help avoid surprises like a costly plumbing problem, a failing roof or an outdated electrical panel that could cause financially stretched buyers to bolt before closing.”

What’s a Pre-Listing Inspection?

It's exactly what it sounds like: a professional home inspection you schedule before your home hits the market. Here’s what it can do for you:

• Give you time to fix what matters. You’ll know what issues could come up in the buyer’s inspection. So, you’ll have time to take care of them before anyone even walks through the door.
• Avoid last-minute renegotiations. When buyers uncover unexpected issues after you’re under contract, it opens the door for concessions you may have to make like price drops or repairs, or worse, a canceled deal. A pre-listing inspection helps you stay ahead of those things before they become deal breakers.
• Show buyers you’re serious. When your home is clean, well-maintained, and already vetted, buyers see that. It builds trust and can help you sell faster with fewer back-and-forth negotiations.

The bottom line? A few hundred dollars upfront can save you thousands later.

Should Every Seller Do This?

Not necessarily. Your real estate agent can help you decide what makes the most sense for your situation, your house, and your market. If you decide to move forward with a pre-listing inspection, your agent will guide you every step of the way. They’ll:

• Advise on whether to fix or disclose each issue
• Help you prioritize repairs based on what buyers in your area care about
• Make sure you understand your local disclosure laws

Bottom Line

If you want to avoid potential snags in your deal, a pre-listing inspection could be the way to go. Let’s talk about whether a pre-listing inspection is the right move for your house and market.

Would you rather find out about a major repair now, when you can handle it on your terms – or after you’re under contract, when the clock is ticking?