Navigating a Weird Summer Market
Portlanders know how to vacation! We spend enough time running between raindrops that when the sun comes out for Summer, many of us bolt for the beach, forests, and to visit distant relatives. After school adjourns in early-mid-June, the Portland Oregon real estate market traditionally becomes a little sleepy for a few weeks while everyone is off to play. When they return, in mid-late July, activity picks up and we see a robust market until late mid-late September when kids return to school.
Summer 2017 is a little different. So many local schools endured extended school years because of the inclement weather we had Winter 2016-2017, and so many private and public schools were affected differently, Portland Area schools ended their school years at vastly different times. As a result, some schools were out by mid June and others were still in session at the end of June. This staggered vacation schedule has staggered the real estate market’s ‘Summer Sleep.’ This year we are seeing a slight Summer slow-down, but it is much less than the slowdown experienced in previous years. Some people are already back from vacation and have resumed their house-hunts, while others have not yet left for their vacations.
This has caused a continuously robust market which has meant consistent competition for affordable homes throughout our Summer. This is great for Brokers who are working the Summer months but has been frustrating for Buyers who have been looking and looking for their next home amid throngs of fellow house-hunters at weekend Open Houses.
At times like these the relationships between brokers becomes critical. Those of us who have been helping clients in the area for years have long-standing relationships with fellow brokers, within Wildwood and outside of it. Phone calls to long-time acquaintances in our industry may be helpful in the search for homes our clients may love. There is more to the practice of real estate than looking on the RMLS for homes. The relationships between brokers may be the key to finding your next property.