Market Stats from March!

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Market Stats from March!

I think the most telling item in this months market highlights is the caption under the Summary chart. It reads; "Due to the vast difference between the counties in the mid-columbia region, the area propert on page 15 provides summary information on each individial county"

Which is another way of saying......"there's some dogs in there, look out!"

The First Cut
At First cut, things look pretty rough. 14% decrease in new listings, Closed sales down.....ready for this? 46.4% and Pendings down 34%. For the quarter, Pendings doen 31.5% and closed ar 30.9%

See the upward tick?

The Finer Measure
Lets look closer at the Hood River County. Overall in Hood River County, Pending Sales were down 5.9% in March, and 26% for the Quarter. (Big uptick) Interestingly, while the other numbers look similar (bad, but not doing horribly) there is an interesting note......and that is that 9 of the 12 closings in March, and 23 of the 34 closings this year to date, are all in downtown Hood River. That looks like a flight to "quality" to me. (Quality being defined in a defensive aspect, like, safety, or value)
Around the region this thought seems to play out in this first quarter. Most of the outlying areas got absolutely pounded. Some of it is seasonal, but if this trend continues, it could hurt the outlying areas alot this year. Shorthand? If you want to live Rural, make an offer.

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