What we discuss:
- Signs of a really strong Spring Real Estate Market.
- The great opportunities this Spring Market will bring for home sellers.
- How home buyers can be successful even with the market heating up.
Recap of the last few weeks:
We may be having “fake Spring,” weather-wise, but the Portland Metro Spring Real Estate Market seems to already be in full swing.
While we saw multiple offer situations continue to happen throughout the fall and winter on the most sought-after homes, we now are seeing the average home get at least one offer in the first weekend and a higher probability of multiple offers.
Here’s what this means if you are a home seller:
A whole lot more opportunity than you have seen in years. We were already predicting a strong market this Spring due to pent-up demand from buyers and historical trends (Spring is always busy). But this year, we are already starting to see those predictions come to fruition, and it’s not even March.
If your home is well-prepped, priced strategically, and marketed well (I take care of this aspect), you can likely expect great results.
However, keep in mind that while buyer demand is higher, buyers are still dealing with high interest rates, so they will have big expectations when it comes to the quality and upkeep of a home.
But with the right plan in place (which I can help you create), the possibility of getting you multiple strong offers on your home is there.
Okay, now let’s discuss what you home buyers can expect:
If what I have said above freaks you out at all, take a deep breath. While the market has become more competitive again, with the right plan and expectations, we can find you an amazing home, and the process can be quite seamless.
In this market, it is just going to be ever important to be super clear on your budget and comfort level when viewing properties and writing offers.
We will also want to keep a close eye on the data of properties similar to the ones you are interested in. If we see a home that was listed in your budget, sell for outside of your budget we will know to avoid homes like this as to not waste your time and cause heartache.
It will also be helpful to collect this data as it can help us know where we can compete when it comes to offers. In a market like we have now, I often recommend looking at homes well below your budget ($10-50,000 under, depending on some factors). That way, you have room to offer up and are in an empowered position.
Buying a home in a hot market is not always simple, but it doesn’t have to be complicated or stressful.
If you are looking to make a move this Spring or beyond I would love to chat. Just have a question? I am here for that too. You can find my contact information below. Reach out.
Lily Ray Wyss
Broker | OR
She/Her
Follow me on Instagram to see my new finds and spotlights on the best places to eat, play, and be entertained in the area. And for information on buying/selling and current home market data. Follow at: @lilyrayresidential
