Mt. Hood November Real Estate Sales
Multiple listing service just came out with sales info for November on the mountain. A shrinking inventory with only 55 total listings on the market shows prices will rise in 2017 unless new inventory comes on the market.
The average sales price is inching up. There’s only eight properties currently on the market under $200,000 and half of those are on leased land. Since leased land cabins are cash only that doesn’t leave much inventory for buyers who need to obtain a mortgage for purchase.
Twenty one home and cabin sales closed in the Mt. Hood area. Seven of those were Mt Hood National Forest cabins. All were under $200,000 and driving the sub $200,000 market. The balance of sales were scattered through Timberline Rim, some near the Resort at the Mountain and the rest scattered through other mountain neighborhoods.
Three lot parcels closed this month. The interest in land and acreage has increased substantially this year as inventory is depleted and many people are realizing the scarcity of Mt. Hood properties will continue with the pressures of the Portland Metro population putting higher demand on vacation homes that are easy to get to. Our Mt. Hood area is very well developed and future growth is restricted by the bordering National Forest and large timber parcels.
It’s the best time to buy while prices are still affordable!
