2018 Canby Real Estate Forecast

27 Jan
Canby Oregon

Is a ‘Sea Change’ in Store for Canby Real Estate?

If you’ve been considering the sale of your Canby, Oregon home, 2018 could be the year to do it. That’s because some forecasters sense a possible change in our real estate climate. 

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Whether temporary or not, recent multiple listing information appears to suggest that for now, our region may have reached peak price performance.

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Regional Home Price Chart

Canby’s Good News & Bad News
Good news: Our area’s average home price was up last year by 7.2%

Bad news: Canby area home sales changed last year by -11.8%

Naturally, these figures don’t guarantee Canby’s 2018 real estate performance. This year it’s possible prices could rise. It’s also possible prices could fall.

Lock, Stock & Barrel
Buying low and selling high is a good way to ‘lock in’ profit. Added bonuses for now include our current low competing home inventory, plus attractive interest rates.

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Low Inventory=Strong Seller’s Market

Better Than Average
What has helped to drive prices up has been a home shortage. An ‘average’ real estate market is frequently cited as having 3 to 6 months of house supply. At that level, neither buyers or sellers dominate. Our most recent regional housing level remains low. At 1.6 months of housing supply, that’s roughly half of what’s considered a low average figure. As a result, our ‘seller’s market’ right now is especially strong. But like the weather, that can change.

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What Are You Waiting For?
Contact your CanbyHomes.com sponsor, Certified Realty at (503) 682-1083 for a free report on what your property could sell for in today’s seller’s market, or use the form below.

 

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