January started off relatively mild, dragged on forever, then wrapped up with budding crocuses reminding us all of Spring to come. A mixed bag of industry ups and downs, January 2018 actually turned out to be seasonally healthy for new listings – outpacing January 2017 – and the strongest for pending sales since January 2007. However, closed sales cooled 11.9% from the same time last year, and 30.7% from the month prior (Dec. 2017). Whew. Good news taken from the overview is that more listings are trickling onto the market, and buyers are mimicking those crocuses by popping their heads up and seeing what’s around. Scouts are stellar at helping buyers snag their perfect home, and we kinda rock at getting houses sold, too – get in touch to join our ever-growing list of happy clients.
Overall Portland Prices:
- Average sale price in the metro area for 2018 through January was $430,100, a 7.6% increase from this time last year.
- The median sale price also increased 8.6% to $380,000 in the same comparison.
- Rates rose slightly 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.