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Are you feeling change in the air? We are.
It’s not exactly a lull. It’s not a bursting bubble. It’s not a correction. So what is it? To us, it feels like the local market is adjusting to fewer people moving to our fair city, prices starting to stabilize, and sellers (who also want to buy) deciding if NOW is the time. Guess what? It is! Competition still remains high, but the market feels a bit more accessible than in years past. This means that first time homeowners might have an easier go at getting an accepted offer and may not get beat up over negotiations. It also means that those who want to try the old buy-sell move might just find themselves in a sweet spot for accomplishing both goals. Are you ready to move?
Overall Portland Prices:
- Average sale price in the metro area for 2019 through March was $452,700, a 4.1% increase from this time last year.
- The median sale price increased by 3.9% to $400,000 in the same comparison.
- Rates have decreased to 4.375% 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.