Today’s Housing Inventory Is a Sweet Spot for Sellers

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them.

To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com:

“On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You? 

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

• The percent of homes that sold in less than a month ticked up slightly to 74%. 

• The median days on market went down to 18 days, showing homes are still selling fast when priced right. 

• The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Connect with a trusted real estate professional to get the process started.

Get more like this on Keeping Current Matters.

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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4 Tips for Air Conditioning Care to Keep in Mind Over the Summer

As summer heats up, air conditioning usage becomes more and more common.

However, without proper maintenance, it's easy for air conditioning units to break down in the middle of a heatwave. That's why, as temperatures continue to rise, it's important to keep in mind these 4 tips for air conditioning care that will help keep your unit running efficiently all summer long.

Change Your Filter Regularly
One of the most important things you can do to keep your air conditioning unit running smoothly is to change the filter regularly. A dirty or clogged filter can cause your system to work harder than it needs to, which will, in turn, increase your energy bills and decrease the lifespan of your unit.

Keep Your Coils Clean
Your air conditioning unit's coils can also become dirty or clogged, making it harder for your system to cool your home. To keep your coils clean, clean or replace the air filter regularly, and also consider scheduling an annual maintenance check with a professional HVAC company.

Clear Obstructions from Your Unit
Maintaining a properly functioning air conditioning unit is a top priority for any homeowner. In order to ensure optimal functioning, it is important to clear any obstructions from around the unit. Overgrown plants or debris can obstruct the airflow in and out of the unit, increasing the likelihood of expensive air conditioning repairs down the line. By taking the necessary steps to clear any obstructions, homeowners can save themselves from the stress and financial burden of a malfunctioning air conditioning system and, as a result, a possible air conditioning repair. It is important to maintain the unit proactively to ensure optimal comfort during warmer months.

Mind the Thermostat
Your air conditioning unit's thermostat is the key to regulating the temperature in your home. To keep your system running efficiently, be sure to keep your thermostat set at a reasonable temperature, and also consider installing a programmable thermostat to make it easier to keep track of your system's temperature.

Properly caring for your air conditioning unit is essential, especially during the hot summer months. By following these four tips, you can help ensure your unit runs efficiently and effectively all summer. Take the time to educate yourself about your system's needs, and don't forget to schedule annual maintenance checks with a professional HVAC company to keep your air conditioning unit in top condition for years to come.

Get more tips like this on RISMedia.

Related Links

• How To Identify the Signs of Imminent Roof Repair and Handle It Early On

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• Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Experience Luxury and Serenity in the Heart of Crescent Creek!

Better than new and nestled in the trees, this beautiful Pahlisch home was the model for Crescent Creek, showcasing every available upgrade.

The primary bedroom is nicely separated, with a generous closet, dual quartz vanity, tile shower and flooring. The vaulted great room features a gorgeous floor to ceiling rock-faced, natural gas fireplace to keep you cozy all winter, and large windows to invite the sunshine in. The kitchen includes a dining area and a kitchen island with eating bar, quartz counters, dark knotty alder cabinets and Whirlpool appliances. Gazing out, you'll see blue skies and wide-open space just past your low-maintenance, drip system-equipped, xeriscape yard, begging you to keep the windows open! This turn-key property is fenced for pups, has A/C, ceiling fans, alley access, an oversized 2 car garage, gated side yard and even a high-end bidet! Amenities include a park, clubhouse, fitness room, snow removal, sled hill and walking paths, on city water and STEP sewer.

Listed by Carrie Elmore for West + Main Homes. Please contact Carrie for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Carrie Elmore
541-306-1011
carrie@westandmainoregon.com

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Just Listed: A Luxurious Custom Home with Breathtaking Cascade Mountain Views!

Breathtaking panoramic Cascade Mountain views fill this luxurious custom home that exemplifies rustic elegance.

Perfectly sited to capture the 10-peak view and maximum privacy on a premier lot adjacent to the Deschutes River Trail and natural vistas in the exclusive North Rim community. A grand two-story entry vestibule welcomes you to this masterpiece of uncompromising quality and old-world inspired finishes including hand-hewn timbers, stone columns, intricate built-ins and travertine limestone floors. The thoughtful floor plan is designed for entertaining with a flow for indoor / outdoor living throughout the day and in all seasons. More than 4000 square feet of main level living with chef's kitchen, den, library, wine room, primary and guest suites connected by extensive paver decks, patios and courtyards. Additional living with kitchenette, suites and 2nd laundry upstairs. This immaculately cared for artisan home lives like new. Central Oregon living at its best!

Listed by Ryan Bak + Blake Renfroe for West + Main Homes. Please contact Ryan for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Ryan Bak + Blake Renfroe
860-817-7036
ryan@teambak.com

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This Weekend: Oregon Open Houses for July 1st-2nd

Our agents are hosting Open Houses this weekend all over the Central Oregon Area.

You can find all of these listings on our website. Please reach out to the listing agent for information on times and more information on the listing!

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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