Recent housing data from the Regional Multiple Listing Service (RMLS) shows Wilsonville home prices are up 9.6% over last year.
This ramp up in home values is due in part to a decrease in available properties for sale.
While a ‘normal’ housing market usually has 3 to 6 months of home supply, our region is now at only 1.2 months of inventory…and falling.
A ‘Perfect Storm’
With increased demand and dwindling supply, what’s happening in Wilsonville real estate right now could be called a seller’s ‘perfect storm.’ Wilsonville is experiencing a combination of attractive interest rates, plus very low home inventory, which fuels a rise in prices.
This is economic theory in action, whenever there are more buyers than sellers, creating a ‘seller’s market.’
A Hot Real Estate Cocktail
And even with growing home prices, current low interest rates help serve up a hot, but still palatable real estate cocktail that could help Wilsonville buyers better afford their purchase…if they can just find a home amidst such a low housing supply.
The Rest of the Story
As you might guess, individual neighborhoods and towns vary significantly on selling price, buyer demand and other key factors, like how long it takes for a house to sell.
Thinking about selling your Wilsonville area home? It’s a wise move to sell in a seller’s market. Contact our WilsonvilleHomes.com sponsor, Wilsonville’s very own Certified Realty, for a free consultation of what your Wilsonville area property could sell for in today’s market by using the convenient form below.
