Scouting Report: Vol. 3, Issue 9 - Scout Realty Co.

Scouting Report: Vol. 3, Issue 9

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Stats are in – we’ve just endured a 92 day “warm streak”, a record breaking stretch of hot pavements and tanned necklines. Whether all this extra summer lovin’ had an effect on the local housing market we may never be sure, but August’s mixed bag of results might be explained by buyers heading to the coast more often than to an open house. Fewer buyers got into contract, with pending sales lower by 7.6% of what we saw at the same time in 2016. New listings were also noticeably down – 150ish fewer on the streets than both the month prior, and August 2016 – so maybe sellers were beach combing instead of house prepping, too. Despite all of this, house prices continued to slowly shimmy upwards, up 9.3% over this time last year, with an average sales price of $429,000 across Portland metro. Whew. Word on the street is that buyers may be able to work this market-in-flux to their advantage, however, with the guidance of a smart and savvy agent. Come and meet one of ours!

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Overall Portland Prices:

  • Average sale price in the metro area for 2017 through August was $429,000, an 9.3% increase from this time last year.
  • The median sale price also increased 10.7% to $379,900 in the same comparison.

Interest Rates:

  • Rates inched upwards to 4.625% 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.