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.
It certainly feels like the Portland real estate market is starting to cool off – and not just for the season. Across the board, the number of new listings, pending sales, and closed transactions are down not only from last month, but from this time last year. If you’ve been wondering about the big picture, you are not alone. And you’ve probably noticed around your neighborhood, houses are sitting a little longer than we are used to. Average market time just hit 45 days! On a more positive note, when compared with last year’s numbers the average sales price in the Portland is up 5.8%. This is, of course, great news for those who own homes, but may be daunting for folks looking to enter the market. To put an all around positive spin on it, home values and appreciation is still looking favorable even to new homeowners.
Overall Portland Prices:
- Average sale price in the metro area for 2018 through September was $453,800, a 5.8% increase from this time last year.
- The median sale price increased 5.3% to $400,000 in the same comparison.
- Rates have increased to 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.