Real Estate Market

Featured Listing

Featured Listing

For Sale: $595,000

More Information

Market Trends Mt. Hood Real Estate April 2024

Market Summary for March Sales 2024

March sales were slim with only five closing according to RMLS plus two off market sales. As you can see from the March statistics we are getting more inventory in some segments. As of today we have 34 active listings. Pending sales sit at 15.  Based on the five which sold on the open market the length till closing ran to a high of 144 days.                     

 

 

 

 

    March 2024 market stats for Mt. Hood listings and sales

 

All the March sales are listed below. 

 

march 2024 Mt. Hood Real Estate Sales

Mt. Hood Real Estate Sales for March 2024

April 2024 National Overview

U.S. Real Estate Overview

Note: Data below from February 2024 is the most recent from the National Association of Realtors.

Existing-home sales climbed in February, according to the National Association of REALTORS®. Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast. Year-over-year, sales declined in all regions.

Total existing home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops - bounced 9.5% from January to a seasonally adjusted annual rate of 4.38 million in February. Year-over-year, sales slid 3.3% (down from 4.53 million in February 2023).

NAR February 2024 Existing Home Sales Report Infographic"Additional housing supply is helping to satisfy market demand," said NAR Chief Economist Lawrence Yun. "Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices."

Total housing inventory registered at the end of February was 1.07 million units, up 5.9% from January and 10.3% from one year ago (970,000). Unsold inventory sits at a 2.9-month supply at the current sales pace, down from 3.0 months in January but up from 2.6 months in February 2023.
 
The median existing-home price for all housing types in February was $384,500, an increase of 5.7% from the prior year ($363,600). All four U.S. regions posted price increases.
 
According to the REALTORS® Confidence Index, properties typically remained on the market for 38 days in February, up from 36 days in January and 34 days in February 2023.
 
First-time buyers were responsible for 26% of sales in February, down from 28% in January and 27% in February 2023. NAR's 2023 Profile of Home Buyers and Sellers – released in November 2024 – found that the annual share of first-time buyers was 32%.
 
All-cash sales accounted for 33% of transactions in February, up from 32% in January and 28% one year ago.
 
Individual investors or second-home buyers, who make up many cash sales, purchased 21% of homes in February, up from 17% in January and 18% in February 2023.
 
According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.74% as of March 14. That's down from 6.88% the prior week but up from 6.60% one year ago.
 
 
Regional Breakdown
 
At 480,000 units, existing-home sales in the Northeast were identical to January but down 7.7% from February 2023. It's the fourth consecutive month that home sales in the Northeast registered 480,000 units. The median price in the Northeast was $420,600, up 11.5% from one year ago.
 
In the Midwest, existing-home sales propelled 8.4% from one month ago to an annual rate of 1.03 million in February, down 3.7% from the previous year. The median price in the Midwest was $277,600, up 6.8% from February 2023.
 
Existing-home sales in the South leapt 9.8% from January to an annual rate of 2.02 million in February, down 2.9% from one year earlier. The median price in the South was $354,200, up 4.1% from last year.
 
In the West, existing-home sales skyrocketed 16.4% from a month ago to an annual rate of 850,000 in February, a decline of 1.2% from the prior year. The median price in the West was $593,000, up 9.1% from February 2023.
 
"Due to inventory constraints, the Northeast was the regional underperformer in February home sales but the best performer in home prices," Yun added. "More supply is clearly needed to help stabilize home prices and get more Americans moving to their next residences."
 

 

What's Your Credit Score?

Your credit score is a composite snapshot of your credit history. A high credit score takes time to cultivate, and is not likely to rise much in a short period of time. Generally speaking, you want to make sure you pay your bills on time, keep outstanding debt levels to a reasonable amount for each account, and avoid closing accounts you've successfully paid-off and managed. Don't lose hope if you have less than perfect credit, there are still good loan programs out there for responsible borrowers. We have a list of preferred local lenders who can help you find the best financing programs for your specific needs.

Contact us and take advantage of today's low interest rates!

Here are some great resources to learn more about credit scores, and to get a free credit score and report:

The price is right - or is it?

Dining room view of home listingIf you are planning to put your home on the market -- especially if you live in a place where prices are rising and buyers are competing for homes -- it can be tempting to list your property at a high price hoping that you'll actually get it. After all, it can work with cars, why not with homes?

You may want to think twice -- the resale of homes and automobiles are very different things.

Experienced Realtors who have been through dozens, scores, or even hundreds of transactions, will advise you to price your home appropriately from the outset because it's pivotal to seeing the home sold quickly and at the best price. Research backs up what experienced Realtors already know: overpricing your home and then lowering the price a few times most often leads to a final sales price significantly below what you originally should have asked for it.

And, to make matters worse, the longer a home remains on the market, the deeper the discount is likely to be off the original price. Ouch!

How to price your home correctly

Many homeowners seek to price their home based on factors like the price they paid for it, the balance that they currently owe, or simply on the profit they need to buy another house or to meet their financial goals. These motivations are perfectly understandable but in reality the value of your home is what the market will bear. Here's the problem: If a property is overpriced, some potential buyers will avoid looking at it at all (and having no one show up to see it is a pretty clear message from the market). Others may view the home but walk away without making an offer.

So, what can you do? Choose a Realtor who can provide you with the best comparative market analysis (CMA) and who understands your local area intimately. Some agents may attempt to woo you with an inflated price -- it probably happens every day somewhere -- but in the end the market will speak clearly, and choosing an experienced Realtor who understands the importance of market-driven pricing will end up being a choice you won't regret.

Your Realtor's CMA should include sales prices for similar properties nearby that have sold recently, prices for currently listed homes (these will be your competition), and prices of homes that were taken off the market because they didn’t sell. Look for a Realtor with demonstrated experience who can factor in a range of local market issues to produce that all-important first price.

If the price is right from the beginning, it usually means not only a faster sale, it typically means more money in your pocket.

 

Still Creek Cabin New on the Market

 

  Still Creek Cabin on Mt. Hood            Still Creek in the Mt. Hood National Forest

Road 12 Lot 45 Rhododendron, Oregon

Stunning Still Creek charmer in immaculate condition just hit the market. Wonderful location with views of the creek and access to the water. Sit on your deck and watch the ducks fly by. A private gated driveway takes you to the parking area with plenty of room for cars. Original 1945 cabin with knotty pine from top to bottom. Wood fir floors and fireplace with Lopi wood stove insert to warm your toes after a day on the slopes. Vaulted pine ceilings too. Tons of windows with full natural light and views of the creek. The primary bedroom is spacious. There's a bonus pull down stair loft that kids will love as their hideaway bedroom. The kitchen has a stove, frig and microwave plus plenty of cabinets. The kitchen is open to the living room and dining room area of the cabin. There even an eating bar too. Multiple sources of heat make this cabin easy to warm up in winter including the wood stove insert, forced air oil heat plus electric zonal wall heaters. Snow will not be a problem with the metal roof to protect the cabin and your covered entry for easy access. It's on a water system and has a septic system. Watch the salmon spawn in the fall right in front of your cabin! Still Creek is known for it's spawning pools. Another big bonus is Still Creek is kid and pet friendly in summer where you can easily take a dip right out front of your cabin. Beautiful slate walkways were discovered by the owners that take you towards the creek. There's also a picnic table and fire ring just step from the front door. A bonus storage area and wood shed are close to the cabin. Perfect for your mountain toy storage or barbecue and summer chairs. A well stocked wood shed is attached to the storage area for easy access to stock your wood stove. The location is only 20 minutes to premium ski areas. Still Creek Road will take you all the way to Trillium Lake for a good mountain bike ride and for fishing. The cabin is located in the Mt. Hood National Forest on leased land. $425,000