Mt. Hood Market Stats for February 2020
February saw nine sales close for the month. I expect March sales to be fairly around that same number. Lack of inventory has still kept a lid on the numbers due to lack of choices for the buyers. February had only 36 properties for sale and that was with 15 new listings.
The average sales price hit $342,700 with a marketing time averaging 123 days. This could be because of the pricing point in our area these days. As of today, two thirds of active listings on the market are greater than $300,000!
The current pause in the market should be interesting. As we slowly head towards the spring market we should see listings pick up the pace. I expect the second quarter to show few sales as a result of today's slow down but hopefully by summer we will crawl our way out of this.
