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Brought to you by Lake Oswego Realtor Ward Spears, Coldwell Banker Bain of Lake Oswego.

Ward Spears, Coldwell Banker

The degree to which the real estate market has been a "sellers" market has surprised just about everyone since about June of 2020. At first the market reacted pretty negatively to the restrictions, that was followed by one of the strongest seller's markets we've ever experienced.

Now, the likely course of the market over the coming year isn't a strong downturn but a market in which some homes sell for a premium and in other instances buyers find a nice opportunity. In the recent past the best definition of a "nice opportunity" for a buyer has been to win a competitive bidding war. Most people wouldn't consider that to be a normal negotiation.

The current state of the market is there are increasing ways for home buyers to negotiate in a normal way. Average time on market has increased to an average of 21 days for the Portland metro area. Often now there isn't competition for a home and sometimes even concessions.

Working with an agent who is adept at navigating changing times is key. Strategies used during a strong seller's market can now be a great way to give the buyer of your home a nice discount. Time spent with a good agent planning and strategizing is time well spent.

Coldwell Banker Bain of Lake Oswego

4200 Mercantile Drive, #700 Lake Oswego, OR 97035


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