RECOMMENDED for first-timers.
Winning the listing requires more than a Quick CMA. Create a professional presentation packet with Paragon's CMA Wizard. We'll step you through the CMA process and teach you the fundamentals of building your own business-winning presentations.
Course qualifies for 1 hour Continuing Education Credit under Oregon Real Estate Agency rules.
Thursday, March 12 @ 2PM
WVMLS Office (3421 25th St. SE, Salem, OR 97302-1122)
Instructed by David Bartel
Have you seen the stats that we recently posted for January? At first glance, they look a little crazy – maybe even contradictory.
Closed sales down 35.9%?
Months of inventory at 6.4 months, a huge jump of 47.1%
New listings UP 80.4%
DOM rose to 90 days from a summer low of <60?
What gives? Are we having a major market correction? Probably not, but let’s unpack why...
Statistics lag behind real-time activity. Closed sales reflect decisions made 30-60 days earlier. Activity in the last part of November and all of December drops precipitously every year across nearly all price points. This predictable “holiday lull” happens when only the most motivated buyers and sellers remain active from Thanksgiving thru New Years Day.
Here are some tips for seeing thru January statistics:
Give year-over-year comparisons more weight than month to month figures
Combine months of inventory + new listings with active inventory (which is actually down 4.7% over last year) to balance out the typical “let’s get it on the market after new New Year” surge.
Remember that Days on Market is an extremely seasonal metric, and the big fall-off in closed sales is more about timing than the market itself
So what’s the real story? Sales prices are softening slightly, which is decent news for buyers. Overall, our market seems to have corrected modestly in a direction favoring buyers. Now that the Holiday Effect is over, balance is reasserting itself in the valley, signaling better opportunities and stronger outcomes for our Members and their clients.
Here’s to a happy and prosperous New Year!
