New listings are up 8% from last year, but remain 22$ below pre-pandemic levels

[AJ Wong]

Sellers are responsive to mortgage rate declines and lower rates could further boost listings later this year. 

On the Oregon Coast we have experienced a similar rise in real estate investment options. Some smaller coastal towns had literal handfuls of options at peak low interest rates. 

There is more inventory but still an elevated demand for both affordable and luxury vacation rental eligible prime homes. 

There have been several examples of $1M+ listings that are still receiving multiple offers, and many for all cash. 

Prime Oregon beach homes are a limited asset class regardless of inventory levels and there is little to no new construction development occurring. 

What are you seeing in your local market?