Scouting Report: Vol. 5, Issue 8 - Scout Realty Co.

Scouting Report: Vol. 5, Issue 8

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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.


 

There’s no way around it, the back-to-school sales are in full affect, which means that fall is just around the corner. Popular opinion dictates that spring and summer are the more favored times to buy and sell homes, but experience tells a different story. Most real estate agents will swear by a pretty consistent mid-summer slump, followed by a noticeable bump in business as we get into late summer and early fall. Is it vacation schedules? A need to hunker down for the impending winter? This time around, the low interest rate may just be the culprit for the current flurry of activity. For years we have been hearing warnings of interest rates on the rise, but here we are. If you have been giving some thought into buying, now may be a good time to crunch those numbers. The lower rates may just be your ‘in”. And who says the cooler seasons can’t be the perfect time to move?

Market Stats

Overall Portland Prices:

  • Average sale price in the metro area for 2019 through July was $458,300, a 1.0% increase from this time last year.
  • The median sale price increased by 2.0% to $408,000 in the same comparison.

Interest Rates:

  • Rates have decreased to 3.750% 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.