Now Active On The Market!
289 NW Monte Vista Avenue
Madras, OR 🏡 97741 - $400,000
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The pace of the market has continued to slow and we are seeing longer days on market, along with price reductions as sellers attempt to get their property sold before colder weather hits. One key driver to this shift would be the increase of inventory that we've seen this season, but the biggest contributing factor is still the lack of affordability for buyers. Take a look at the graph below to illustrate affordability changes over the years. With interest rates high and prices continuing to hold strong, many buyers are feeling discouraged when they realize their monthly cost of home ownership. For those with the ability to bring large equity rollover or cash to the table, shopping has been much more fun and there are great deals to be made. All in all, we have seen a swift shift from seller to buyer market and the playing field is taking some getting used to! - Greg
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Market Snapshot
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