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

Scouting Report: Vol. 5, Issue 5

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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.


 

It seems like a Realtor can’t attend a social event these days without being cornered with questions about the state of the housing market. 
Fortunately, most in this field have strong thoughts about what’s happening these days. While we waited and anticipated a strong opener to the spring market, new listings didn’t quite show up in the quantity that we expected. Now that the April numbers have come through, it looks like we simply had to wait for it. Last month was the best April we’ve seen for new listings since way back in 2011… and it beat out the month prior by a whopping 20%. Pending sales and closings are all up while market time is down. This is what spring in real estate is supposed to feel like. So, what does it all mean for the big picture? Most likely a lot of nervous buyers and sellers were just playing a bit of “wait and see”. It seems as though those on both sides of the transactions are starting to feel a bit more comfortable. Buying and/or selling? Now just might be the right time for all of the above.
  

Market Stats

Overall Portland Prices:

  • Average sale price in the metro area for 2019 through April was $445,900, a 0.3% increase from this time last year.
  • The median sale price increased by 1.2% to $399,600 in the same comparison.

Interest Rates:

  • Rates have decreased to 4.25% 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.