Archive | May, 2014

Canby Homes Market Update

22 May

A recent report on Canby real estate provides some helpful insights into our current market.

The study includes local market data on Canby and neighboring towns. What makes this report so interesting is that the data is from the Willamette Valley Multiple Listing Service, known as WVMLS.

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Our High Livability Puts Canby On The Map-Click Image For Details

Of the two largest multiple listing systems used to market Canby homes, the Portland-based RMLS (Regional Multiple Listing Service) dominates and WVMLS is less commonly used. However, comparing Canby only to areas like Wilsonville, Tualatin and West Linn using the Portland area’s RMLS provides only one perspective of Canby housing.

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Regional Home Prices Continue To Climb, As Shown on This RMLS Graph

Using WVMLS provides some balance and helps to capture a better total picture of our Canby housing market.  Indeed, some buyers compare Canby to outlying areas like Aurora, Hubbard and other neighboring communities when searching for their next home.  To learn more about the two major multiple listing systems in our area, click here. 

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Local Real Estate Markets-Click Image to Enlarge

In the table above, a few key categories are circled in red, showing where Canby is the front-runner. Here’s a summary of this new report, with key information on Canby real estate:

Canby Homes Sell Fast
With an average market time of 89 days, homes in Canby sell quickly compared to neighboring communities. Homes in neighboring towns like longer, like Aurora (123 days), Silverton (140 days) and Woodburn (163 days) .

Canby Homes Are Smaller
Canby has one of the smallest average home sizes of all towns surveyed. With an average of only 1,530 square feet of living space, only Woodburn comes in lower with an average home size of 1,355 square feet.

Canby Homes Are More Expensive
Canby homes by far have the highest average cost per square foot at $172. Other local towns don’t even come close. 

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Oregon’s Choice Since 1950

Thinking About Selling? Choose The Professionals!
The experts at Certified Realty can provide you with a FREE report on what your property could sell for in today’s market. Certified Realty sponsors CanbyHomes.com and they remain Oregon’s choice since 1950. Count on Certified Realty to provide effective dual multiple listing coverage for optimum marketing of your Canby property.

With nice weather and fewer competing Canby homes on the market, now is a great time to contact Certified Realty using the convenient contact form below.

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Canby Home Prices Grow

15 May

A recent report on Canby area real estate confirms a continued solid increase in local home values. Compared to last year, Canby area home prices are now 15.3% higher. If this trend continues, we could be well on our way to a banner year for Canby real estate. 

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Canby Home Prices Are Up 15.3% Over The Past Year-Click Image to Enlarge

A comparison of price growth among local communities reveals Canby is now among the top tier for regional home price growth.

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Like Canby, Regional Home Prices As Shown on This Graph Are Also Climbing

Why Is Our Canby Real Estate Market Strengthening?
There are several factors helping to boost Canby area home prices. These include Oregon’s real estate seasonality, which brings improved home buying weather this time of year. Gains are also due in part to a continued recovery from the Great Recession which began around December, 2007. However, perhaps the key reason to explain our real estate boost is a significantly reduced inventory of homes for sale. 

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Our Region Would Run Out of Homes in 2.8 Months

According to the latest housing inventory report from the Regional Multiple Listing Service (RMLS), the greater Portland Metro area will now ‘run out of homes’ in 2.8 months. Click here for this new FREE report, with helpful information on Canby area real estate.

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Canby’s Title As ‘The Garden Spot’ is Well Deserved

What Does This Mean For Canby Homebuyers & Homesellers?
Low home inventory means there are fewer houses for sale. A main effect of having fewer homes for sale typically means less selection and higher prices. This is the classic ‘seller’s market,’ where buyers lose a significant amount of leverage. This means buyers have to compete more against one another to find a desirable home.

As a result, home prices rise. If you’ve thought about selling your Canby home, this may be your best opportunity for the foreseeable future. However, if Canby home owners en masse begin sensing the time is right to sell, such a concomitant increase in supply could cancel projected home price gains.

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How Low Will Our Home Inventory Go?

Limbo, How Low Will We Go? Another reason for our home inventory’s newsworthy nature has to do with the time of year. We’re already trending slightly ahead of 2013 given our latest inventory figure of 2.8 months from April.  Last year, the months of May, June and July reported the lowest in all of 2014 for regional inventory. So the lowest number of available homes for sale may yet be ahead.

Timing The Market
Based on last year’s performance, homeowners may have another few months before the supply of homes begins climbing back up. So if you’re considering a Canby area home sale in 2014, acting sooner is likely to be in your favor before inventory rises and other events are factored in, like families purchasing before the school year begins.

Consult The Experts
Thinking about selling your Canby area home? Contact the experts at Certified Realty, Oregon’s choice since 1950, for a FREE report on what your property could sell for in today’s market.

3 Reasons To Sell Your Canby Home Now

2 May

With the arrival of Spring’s beautiful weather, many Canby homeowners have heard someone say: “Now is an excellent time to consider placing your home on the market for sale.”

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Rural Canby Mt. Hood View

However, you may have wondered why exactly is it considered such a good time for me to sell my property? Is it all about sunny skies? So if you’ve ever thought about selling your Canby home, this article is for you. Here are three reasons to now consider selling your Canby, Oregon home:

Reduced Inventory
There are fewer homes on the market right now. Our 3.1 month supply of homes means demand is stronger. That frequently translates to higher home prices. And with fewer competing sellers, you may need to negotiate less for your best deal.

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Our Housing Inventory Drops During Spring & Summer.

Seasonality
Many home buyers shop in earnest during better weather. Why? It’s easier, more fun and there’s more daylight. But there’s one other reason you may not have considered: School is out soon and that is a great opportunity for families with kids to move during Summer Vacation. Don’t miss out on these buyers!

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In Oregon, Beautiful Weather Takes Us Outdoors For Recreation And Home Buying!

Interest Rates
One of the big factors affecting home affordability is the interest rate charged by your lender. Interest rates remain near historic lows. This means even with rising prices, buyers can find homes to be more affordable if interest rates stay attractive.

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They’ve nudged up, yet mortgage interest rates remain attractive.

Thinking about selling your Canby home? Contact our sponsor, Certified Realty using the convenient form below for a FREE report on what your property could sell for in today’s market.

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