Scouting Report: Vol. 3, Issue 7 - Scout Realty Co.

Scouting Report: Vol. 3, Issue 7

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With the sun non-stop shining, we’ve seen Portlanders out and about in droves this past month – celebrating Pride, getting festive at the Mississippi Street Fair, and cultivating their farmer’s tan at the farmers markets. We’re also seeing plenty of buyers at open houses, likely due to another solid month of homes becoming available – the strongest June for new listings since 2008! June also saw more closed sales than the same time last year, and a 10% hike from just last month. However, 2017 continues to skirt the market fervor of 2016, keeping cooler in general despite a slow and steady rise in home prices. With lots of fresh inventory and buyers with their eyes on the prize, it looks to be a hot and hectic summer.

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Overall Portland Prices:

  • Average sales price in the metro area for 2017 through June was $427,000, an 9.8% increase from this time last year.
  • The median sale price also increased 10.3% to $375,000 in the same comparison.

Interest Rates:

  • Rates continue to hold steady at 4.25% for a 30-year, fixed, conventional with excellent credit.

 

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