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The number of closed and pending transactions, as well as new listings, are up both from last year and last month. All indicators show that buyers and sellers are feeling more confident in the state of the market. Interestingly, when comparing the average sale price of homes in the Portland metro area for January – June 2018 and 2019, values have gone up just under 1%. That doesn’t seem like a lot, especially when considering the double digit jumps that we have seen in the last few years. What does this tell us? Simply that it doesn’t do a lot of good to make money on a sale if you can’t afford to buy. Feeling the market begin to balance is good for everyone – especially those who are ready to level up on a house and stay in our city. There is no absolute answer to the age old real estate question “Is now the right time?”, but now may be a more “workable” time. Ready to look into it? We are.
Overall Portland Prices:
- Average sale price in the metro area for 2019 through May was $452,700, a 0.9% increase from this time last year.
- The median sale price increased by 0.7% to $402,400 in the same comparison.
- Rates have decreased to 3.88% 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.