I know I keep tweeting articles about the national real estate economy and perhaps you are tired of hearing about it by now. However, I feel like there are so many recent years of bad economic news that it still excites me to be able to counter all that doom and gloom! For the month of April all indicators are up again for Benton County!!
As I said last month we all know about the law of supply and demand and April gave us further evidence of that force at work. The number of Month’s Supply of Housing Inventory was nearly half of the supply available exactly a year ago (10.5 down to 6.7). The total number of housing units available in Corvallis and Benton country went from a total of 452 to 343! That is another step in the right direction that directly relates to the number of month’s of supply available. Those that are on the market have seen a decrease in the average days on the market go from 144 to 130 for that same exact date a year ago. Sales are also up from 43 last April to 51 this April. If you would like to see these figures in graph form just click on the link below. Sometimes pictures are better than words!