Scouting Report: Vol. 5, Issue 7 - Scout Realty Co.

Scouting Report: Vol. 5, Issue 7

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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.


 

Portland real estate has been experiencing a solid sellers market for years now, but, as we’ve been saying, we are feeling a transition. As we move forward sellers will need to invest a little more time and money to make their listings stand out from the pack. Let’s take a quick look at one popular tactic: staging. There is no denying that professional photos is the number one most important thing you can do to get your house sold. But nothing improves those photos like having a designer come in and decorate…especially if your house is vacant. Empty rooms show flaws and quirks, they feel cold, and they look smaller than furnished rooms. Admittedly, staging can be expensive, but let’s take a look at the numbers. According to the National Association of Realtors, there is an average 4x return on investment; i.e. for every $100 you spend on staging, you get $400 back. Time on the market can be reduced by 1/3-1/2 and sales price may increase 6-20% for staged homes when compared to vacant homes. Staging isn’t for every client or house, but it is worth a conversation with your listing agent. Especially in a market shifting toward buyers.

Market Stats

Overall Portland Prices:

  • Average sale price in the metro area for 2019 through June was $456,700, a 0.7% increase from this time last year.
  • The median sale price increased by 1.8% to $407,000 in the same comparison.

Interest Rates:

  • Rates have increased to 4.125% for a 30-year, fixed, conventional with excellent credit.

*Photos by Jillian of 22pagespdx *

*Staging by Rough House*


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