Scouting Report: Vol. 3, Issue 11 - Scout Realty Co.

Scouting Report: Vol. 3, Issue 11

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Hello, cozy. Fall felt fleeting (where did it go?!), and the mood on the street is all wind and wintery. The expected cooling of the market marches onward, with the only notable change being a scattering of new listings – 1.8% more than this time last year. Closed sales eased off, with 3.6% fewer than the prior month of September 2017. Prices are consistently rising, although at a more relaxed pace. Overall, 2017 has been a less voracious market than 2016, and less predictable to boot. Scout Headquarters is well prepared for the expected lull that comes with the holiday season, yet we’re still writing (and winning!) offers and throwing some great listings out there. And while everyone else is tucking into turkey, buyers can still score themselves a great deal with reduced competition (hint hint). Keep your holiday spirits up, buyers, you home is out there!

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Overall Portland Prices:

  • Average sale price in the metro area for 2017 through October was $429,400, an 9.0% increase from this time last year.
  • The median sale price also increased 10.1% to $379,900 in the same comparison.

Interest Rates:

  • Rates settled back to 4.125% for a 30-year, fixed, conventional with excellent credit.

 

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Scout strives to keep it real, but with that being said, all information contained within this report is deemed reliable but not guaranteed at the time of posting.