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.
After two months of increasing inventory, we saw another dip in October. Though a seasonal slowdown is not at all surprising, it should be noted that there is less than a month’s worth of inventory once again and, in a larger context, the number of listings last month is 8% lower than in October 2020. Though the local market has remained competitive, those with boots on the ground felt that things started to cool even before the end of Summer. While we anticipate a strong Spring for new listings, it’s anyone’s guess just how competitive it could get this year. If you’ve been giving some thought to buying, selling, or both, it wouldn’t hurt to start strategizing now. Once the flurry of the holidays hit, 2022 will be here before we know it. The “off-season” is a great time to hire contractors, get organized, and plan ahead. And, if you happen to find the right house, it’s also the perfect time for househunting. So, if you’re read to get back out there or get ahead of the game, someone at Scout who would love to help.
Overall Portland Prices:
- The average sale price in the metro area for 2021 through October was $570,600, a 16.7% increase from this time last year.
- The median sale price increased by 16.4% to $506,500 in the same comparison.
- Rates hold steady at 3.125% for a 30-year, fixed, conventional with excellent credit.
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Scout Realty Co. deems all information contained within this report reliable but not guaranteed at the time of posting.