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.
The market is moving at a strong clip primarily because there are more buyers than there are houses. Lack of inventory has been an issue in Portland for years, but we are currently feeling that in a very heightened way. We are seeing heavy competition in all price points – even among the luxury homes that usually take a bit longer to sell. If you are looking to buy, you will most likely experience a little heartbreak and may start to feel a bit burnt out. You’ll need to be ready to act quickly and think creatively and competitively. (That’s where a great agent comes in!) Don’t give up. New listings are popping up every week as sellers get more comfortable with living with the new realities of this pandemic.
Overall Portland Prices:
- Average sale price in the metro area compared to the previous 12 months was $468,700, a 3.1% increase from this time last year.
- The median sale price increased by 5% to $420,000 in the same comparison.
- Rates have remained steady at a low 3.0% 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.