Coos Bay Market Update
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The bar chart below shows the number of listed, pending sales, and sold residential properties in the Coos Bay zip code, trended monthly over the last two years.
The tallest row of light green bars show listed properties available on the market, and as you’ve probably read in the national press, listing inventory is down significantly across the board. In the case of Coos Bay, listing inventory fluctuates seasonally as you’d expect and currently is down approximately -40% from 2018 levels.
The shorter darker green bars represent the number of sold properties, and you’ll see a sharp decline from January 2020 levels as a consequence of COVID-19. The red trend line represents pending sales. Note it is encouraging to see sales and pending sales appear to be trending up in the last two monthly periods, April and May.
Keep in mind that it is still early in the year to make conclusions as to how sales will perform for our market. Note that in the last two years, sales for the market peaked in September and October.
Remember that the figures represented below are the number of units sold, not dollar volume. Further, it’s not unusual to see markedly different trends depending upon market segment, as demand for different price segments operates on different dynamics. The chart below tells a story of the broader market trends, but not of specific market segments. The price segment your home is in may be doing better or worse than the market. Call one of our brokers today to learn more about the value of your home.