Current price stabilization is certainly a result of the list to sold ratio’s slow but steady decline that began drastically in 2009 blipped up just a bit in 2010 and has been on a slow but steady decline since. If the 15 month average list to sold ratio of 1.6 for all of Central Oregon holds we should expect further inventory reduction. Inventory reports will be complete in a week or two.
Based on results since 2007, we have past the “typical” season of increasing list to sold ratios which barely happened this year, adding further support to the possibility of continued inventory declines.
There are lots of outside positive and negative influences on our local market, which could sway our market any which way. These influences have been occurring all along with big headlines – positive and negative, doomsayers prognostications and cheerleaders proclamations, yet change in our market has been slow and steady (and darn near predictable!) which is a good thing in my book J
For a more comprehensive understanding of our market see additional charts and tables covering inventory, sale and list prices etc.:
http://www.centralorproperty.com/Central,ORTrends.html
Also now on:
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