You should sit down for this.
The latest stats out of Yamhill County are that shocking.
In a county that boasts a population of about 107,000, there are only 156 homes for sale currently. Also shocking, 145 of them are “new” listings, which is to say, they arrived within 30 days of the release of the Regional Multiple Listing Service November report.
Here’s some fun math: If we take the number of active buyers shopping for homes right now (as demonstrated by the rate houses are being snapped up), and all of them find a property they like, we would be sold out in less than 30 days.
Average market price in Yamhill County is $523k. The year’s appreciation: 15 percent.
If you own property, congratulations!!! Few investments rack up a 15 percent gain in a year, least of all investments you that shelter you every day. If you are the owner of income property, double congrats because you get appreciation AND rent money. Smart move!