Cano Real Estate’s Josh Dannenmann has advice for both buyers and sellers in Clark County

Ken Vance, editor
Clark County Today

When it comes to the Southwest Washington real estate market, buyers and sellers are likely both asking themselves if this is the right time to buy or sell. Cano Real Estate Broker Josh Dannenmann has some up-to-date advice for both buyers and sellers.

“For people who have owned their homes for a while, this is a great time to cash in on the equity that has been built up,’’ Dannenmann told Clark County Today. “That money can be used for a bigger down payment on the next place or invested elsewhere. With the current shortage of available homes, sellers aren’t facing much competition when selling.’’

When it comes to buyers, Dannenmann encourages to assess their own individual situation, particular if they are currenting renting their home residence

“I’m often asked if now is a good time to buy, and the answer is absolutely ‘YES!’ Dannenmann said. “Even with interest rates being higher than we’ve experienced in recent years and with home prices rising, it’s important to remember that rents are also rising. 

“When you buy a home, you are locking in your monthly housing costs, keeping in mind there will be opportunities to refinance down the road when rates begin to decline,’’ Dannenmann added. “Renters, on the other hand, are at the mercy of landlords and the market and have little to no control over the cost.”

Dannenmann’s analysis comes on the heels of the latest real estate stats for Clark County, provided by the Southwest Washington Regional Multiple Listing Service (RMLS).

In September 2023, there were 631 new listings in Southwest Washington, which is a 15.5 percent decrease from the 747 listed in September 2022, and a decrease of 11.9 percent from the 716 listed in August 2023.

The 445 pending sales last month show a 21.1 percent decrease from the 564 offers accepted in September 2022, and a decrease of 19.2 percent from the 551 offers accepted the previous month in August 2023.

The closed sale count of 476 this past September was a decrease of 20.1 percent from the 596 closings last year in September 2022, and a decrease of 20.1 percent from the 596 closings last month in August 2023.

The area inventory increased to 2.5 months in September 2023. Total market time also increased to 38 days, with the average home sale price of $586,700, and a median home sale price of $525,600.

For more information, contact Real Estate Broker Josh Dannenmann at (503) 481-2661, josh@canorealestate.com, or visit josh.canorealestate.com