Scouting Report: Vol. 5, Issue 10 - Scout Realty Co.

Scouting Report: Vol. 5, Issue 10

ScoutLogo-noback


Scouting Report

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.


 

Maybe you’ve been feeling that chill in the air? Pending sales, new listings, and closed sales are all down from this time last year. As we enter the fall and winter months, we can expect the real estate market to slow down a bit, and if we zoom out will also note the slow down since 2018. So what’s the big picture? Well, over the last decade, Portland real estate has appreciated just over 50% – an average of 4.2% a year – putting Portland in the top 10% nationwide. Even with the less than stellar appreciation of 1.24% in the last quarter, Portland is still above national average with an appreciation rate of 5.06%. The year isn’t over yet, but it’s fair to say that Portland is still a great city for homeownership.

Market Stats

Overall Portland Prices:

  • Average sale price in the metro area for September 2018 – through September 2019 was $455,900, a 1.9% increase from this time last year.
  • The median sale price increased by 2.3% to $405,000 in the same comparison.

Interest Rates:

  • Rates have decreased to 3.75% for a 30-year, fixed, conventional with excellent credit.

Sign up to receive the monthly Scouting Report email newsletter at the bottom of our home page!

Scout deems all information contained within this report reliable but not guaranteed at the time of posting.