Will the First Part of 2017 be a Home Buying Sweet Spot?
Before we begin, it should be noted that a home buying sweet spot is not always a home selling sweet spot. The two are actually quite different and in many instances, influenced by different factors. The exception might be Central Oregon. 2017 will see a host of changes in the marketplace but nowhere will it play itself out quite like it will in this area. Here’s why.
Central Oregon is growing but not too fast. The population is increasing by about 7% over the previous year and while this might put some pressure on the communities impacted by those numbers, planning has been underway for a number of years in anticipation. This is evident in the number of people growing weary of the new comers entering the area. Some have suggested a moratorium on building to give the city a “breather.” That will not happen though.
A growing metropolitan area elevates not only the city itself but the surrounding communities as well. While the state has insisted that places such as Bend work within urban growth boundaries (UGBs), this seems to do two things for the area and those looking to buy or sell or perhaps be on both ends of the process.
Home buyers, both entry level and those looking to buy smaller accommodations to age in place will find Central Oregon to be in a home buying sweet spot. Inventories will be tight as the area ramps up production but what is currently on the market is broad enough to offer a variety of options for a wide range of needs. This means the homes will priced closer to real values rather than under or over due to economic conditions.
Home sellers will experience a different sort of sweet spot. With homes prices increasing but not dramatically, almost as if it were in tandem with the population growth, finding the right price will require an in-depth conversation and the kind of research our office can do for you. Inventories will be in flux the first part of the year. The correct listing will be vital to sell the home promptly but also give you the confidence that you had priced it correctly.
Stop by and we’ll discuss how 2017 will benefit you whether you are buying or selling or just thinking about it.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Principal Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
N Mobile: 541-420- 3725 | B Mobile: 541-420- 4018 | Fax: 541-593- 5123
Licensed in Oregon