2017 promises a strong market for home sales
What should we expect from the local residential real estate market in 2017?
At this early stage in the New Year, we are seeing inventory still constricted. Many of the "new" listings are homes that were taken off of the market for the holidays.
Naturally, January typically isn't the month when we see a lot of new inventory, but we tend to begin to hear the rumblings from the market as it starts to get ready for the spring "selling season."
As we look at the upcoming "season," we are still very confident in what our local market will bring. Instead of a "Trump Slump" we are seeing a "Trump Bump," which seems to have consumers confident, shows growth from out-of-state buyers relocating to our area, and prices that are still strong.
The market from top to bottom is feeling robust, as 2016 showed strength and stability in nearly every market segment.
Metropolitan markets in the West will see a price increase of approximately 5.8 percent and a sales increase of 4.7 percent, much higher than the U.S. overall. Realtor.com named Portland one of five western markets dominating its top-10 list for 2017.
Lake Oswego continues to be a top destination for buyers looking for strong schools, civic leadership and continued urban growth. All indicators point toward a stable 2017 real estate market nationally and locally.
We are confident in our market place and are excited to sell what we love most, our own back yard!
425 Second St.
Downtown Lake Oswego