Q1’s Stable Pricing and Low Velocity

Listings by week% Sold to List Price

As 2023’s Q1 ends and we head into Q2 here’s what we’re seeing:

  • Buyer demand remains strong – absorption is in the 95-100% range and Days on Market is falling
  • Properties now sell on average for 100% of asking price
  • The influence of low-interest rates on sellers continues to impact supply – we need more inventory!!
  • Housing is not going to become more affordable in the near future, as prices are reacting quickly to lack of supply and abating rates.
  • Barring additional shocks to the system (i.e. bank failures, etc.), interest rates appear to have stabilized and there is a solid basis for expecting them to fall in the coming months

Have questions about the Willamette Valley, Portland Metro, SW Washington, or Central Oregon markets? Get in touch!