Most home owners in the Astoria area would answer with a very firm false. There are reasons that it could be a great time to sell your home in Astoria, even during a buyers market here in Clatsop County. Before I continue, let me say this: Every situation is different, and you should seek the advice of a real estate professional.
If you bought your home in Astoria more than 3 years ago, now is a great time to sell and move up. While most of you just collectively rolled your eyes and think I’ve lost it, let me explain. It’s true you will likely net a larger profit when the market recovers, but so will everybody else. If you are a move up buyer, the savings are huge on the buying of the transaction. While the median home prices continues to rise in Astoria and on the Oregon Coast, appreciation is certainly much lower than 2004-2006. The bottom line is while you may not get the premium you would have 2 years ago, the higher you move up in the market the larger the savings on the buying side.
The real estate market here is segmented by list price in terms of inventory and activity. Under $250,000 is the most active part of the market here, with far more buyers and fewer competing homes. As you move up to $300-450,000 the competition gets far tougher with higher inventory and fewer buyers. Selling your home under the $250,000 mark will be much easier than above $300,000 for example. So by selling in a cooler market, you still have a much better bargaining position the farther you move up in the market.
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