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.
Inventory, inventory, inventory! Where is it? Maybe that chill you’ve been feeling isn’t the weather, but the cooling real estate market. If you’ve been out looking at houses, you have probably noticed that there isn’t much available. While searching for a home in what is commonly considered to be the real estate off season could get you a deal, there is also a pretty good chance that you won’t find your dream home until after the new year. The good news is that this seasonal trend is expected, but truly the market in general is feeling a bit sluggish. When compared to this time last month, the number of new listings is down 11.7%. And when compared to last year, new listings is down 1.2%. So what’s a house-hunter to do? Keep those eyes open, but be prepared to be patient.
Overall Portland Prices:
- Average sale price in the metro area for October 2018 – through October 2019 was $456,600, a 1.8% increase from this time last year.
- The median sale price increased by 1.6% to $405,000 in the same comparison.
- Rates have remained steady at 3.75% 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.