If you’ve been thinking about selling your home but were waiting for the market to improve, here is a piece of good news: the wait is over.
“When you take into consideration the lack of inventory in the county, the number of buyers out there, historically low interest rates and more relaxed lender guidelines, the time to sell is now,” said Dusty Trost, Broker with Rob Trost Real Estate.
Dusty Trost is the current President of the Tillamook County Board of Realtors, a non-profit association that serves real estate professionals in the county.
The number of active house listings in Tillamook County is down 39 percent since June 2015.
“Inventory is slim,” Trost emphasized, “especially in the lower price ranges. There is a lot of competition out there for appropriately-priced properties.”
Trost noted that it’s not uncommon to see multiple offers on a single property within the first week that it’s on the market.
“The demand for single family homes is very high,” he said.
This time last year, there were 363 active listings in the county, versus only 221 now. The number of days a home is spending on the market is also declining, from 197 days in June 2015 to 171 days.
“Buyers need to keep a close eye on new listings hitting the market and be prepared to act quickly when they find one they like because they’re not sticking around long,” Trost explained.
And, with interest rates at an all-time low and lending guidelines less restrictive, it’s a great time to buy.
“Property values are still relatively low so if you’ve been considering a purchase, now is the time to get pre-approved and start looking,” Trost added.
A total of 30 homes were sold in Tillamook County in June, bringing the total number of homes sold this quarter to 77.
“The market is the strongest it’s been since 2008,” said Trost. “It’s an exciting time to be in real estate.”
For more information about purchasing or selling a home, or to learn more about the Tillamook County Board of Realtors, visit www.tillamookbor.com.