Scouting Report: Vol. 3, Issue 12 - Scout Realty Co.

Scouting Report: Vol. 3, Issue 12

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Winter is almost here, everyone seems to have that nasty cold that’s going around, and we’re all ready for hibernation. And the market reflects it. We’re continuing the seasonal slump that’s pretty typical for this time of year, although there are (always) a few surprises to be found. While new listings are down 19% just from October 2017, November 2017 had a 16.2% increase of new listings compared to the same time last year, and pending sales were up 4.6% in the same comparison. That being said, we’re rounding out the year slightly cooler than in 2016, and who knows what 2018 will bring. Whatever 2018 has in store for real estate in Portland, Scouts are ready to jump onboard.

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Overall Portland Prices:

  • Average sale price in the metro area for 2017 through November was $429,000, an 8.7% increase from this time last year.
  • The median sale price also increased 9.5% to $379,900 in the same comparison.

Interest Rates:

  • Rates remained steady at 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.