Hot off the press & straight to your inbox, a dispatch from the frontlines of the Portland market. Covering real estate numbers, local news, events, & more.
We are officially calling it – the annual (and very expected) winter slowdown in the Portland real estate market is upon us. And it’s about time! 2019 is just two weeks away! So, what now? Buyers and sellers are left with a couple of choices. Buyers can be on the lookout for screaming deals on the houses that have been sitting for a while in order to scoop up what is, probably, some sort of fixer. Potential sellers can start thinking about needed repairs and begin planning the garden to get ready for spring listings. Or, we can all just take a break and regroup when the sun comes back. It’s anyone’s guess what the market will look like in the new year. Interest rates will probably be up, inventory will most likely still be low, and Portland will continue to be a desirable place to live. Want more thoughts on that? Get in touch with a Scout!
Overall Portland Prices:
- Average sale price in the metro area for 2018 through November was $453,100, a 5.6% increase from this time last year.
- The median sale price increased 5.3% to $400,000 in the same comparison.
- Rates have decreased to 4.5% for a 30-year, fixed, conventional with excellent credit.
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Scout deems all information contained within this report reliable but not guaranteed at the time of posting.