What an interesting time we are in. Between smoky skies, the resurgence of positive Covid-19 results in our valley, and controversial decision making by those in power, we are seeing a lot of movement in and around Oregon, particularly the Rogue Valley. For a while it seemed as though we were witnessing a mass exodus within our state. Idaho, Tennessee, Wyoming and even Arizona were being inundated with soon-to-be former Oregonians. A lot of listings were hitting the market, many with requests for flexible possession after closing, so an out-of-state move could be coordinated. Things never actually slowed down in 2020 and Realtors were hopping trying to keep track of all the new inventory hitting the market, how to make their clients offer as competitive as possible and how to overcome the challenge of what the buyers appetite would support vs what the sales data could justify.
Now…don’t get into a negative downward spiral here…It’s JUST as important to also acknowledge that for every person high tailing it out of our area, we were also gaining scores of people from other states. They didn’t have to be in the city for work now that they were working from home and through that experience, they gained clarity on what was important. Those living in the big cities were packing up and getting out of the hustle and bustle and relocating to the Rogue for its mild climate, outdoor recreations, proximity to the coast, snow, lakes, airport, etc.
The properties with multi-generational living arrangements were selling like hot cakes. Families were combining their resources and finding ways to adjust to the new norm including schooling from home, growing their own food and really hunkering down and sheltering in place but in a comfortable and spacious setting.
In the coming weeks, it will be interesting to see if the surge resurfaces. The Delta variant has most definitely caught the attention of most and is already starting to influence the way many are doing life.
Parents of school aged children are being tasked with a lot of important decisions regarding their child’s learning environment and quality of education.
Many who check in with us for an update on the local market are curious if the activity is being driven by out-of-town buyers. Sure, we are seeing the usual amount of transplant activity but, more often than not, the properties selling right now are to locals who are just looking for a change. Many are upgrading, utilizing the equity in their current homes. A few are downsizing as their children are growing and leaving the nest. Our market remains very vibrant and feels a bit more balanced than we have seen in quite some time. We do feel like values are as high as they have been for a while, but they don’t seem to be continuing to rise quite as abruptly as we had seen a few months back.
The fall is a fabulous time to sell, even though most would assume the spring and summer are best. We have such an incredible climate; the changing colors bring many to our area, most of whom already visited in the past, fell in love but still needed to sell their place back home and now they are returning with money in hand looking for their next spot to land.
If you’re considering selling and think you missed your chance until next year, think again. As we enter autumn, just know the buyers who are out and about are serious about purchasing. They aren’t in town for vacation, falling in love with Ashland and deciding to take a tour with a local Realtor. They are here to relocate, have been screened by the Realtors and pre-qualified by the lenders because let’s be honest, in times like this, nobody is showing property just for the sake of showing it. Homes that are on the market in circumstances surrounding such things as Covid are being offered by sellers who are serious about selling so it’s an excellent time for Buyers to also find great properties with realistic and motivated sellers.
If you’re curious about the value of your home and don’t have a relationship with another Realtor, give us a call. If you’ve been relying on Zillow to tell you what your home is worth, you’re in for a pleasant surprise.
We look forward to meeting you.