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.
If you’ve been thinking that the Portland real estate market is a bit sluggish, you are not alone. We can usually expect things to slow as we trudge through the winter months, but the number of new listings decreased by a whopping 40% from November to December of 2019. Pending sales were also down 22%. Those numbers are pretty substantial, so it is no wonder that we’ve been feeling it. Now that the numbers for the last month of 2019 are in, we see that there was a decrease in numbers of listings overall when compared to 2018. But, home values are still on an upward trajectory, though not at the quick clip we saw a saw a few years back. When compared with last year, average sales price has increased 1.5% and the median sales price is up 2.5%. The next few months should be a great indicator for what is to come. I think we’re all hoping for the same thing: listings, listings, listings!
Overall Portland Prices:
- Average sale price in the metro area for January 2019 – through December 2019 was $459,200, a 1.5% increase from this time last year.
- The median sale price increased by 2.5% to $410,000 in the year to date comparison.
- Rates have declined slightly to 3.625% 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.