Scouting Report: Vol. 7, Issue 3 - Scout Realty Co.

Scouting Report: Vol. 7, Issue 3


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.

Here we are again with the monthly report of Portland real estate…and much remains the same. Competition is high among buyers, sales prices are steadily increasing, inventory has taken another dip. But, here’s something new, interesting, and, dare we say, hopeful? According to the  Home Purchase Sentiment Index® (HPSI), a survey Fannie Mae conducts every month, consumer confidence in the market even amid all this chaos ticked up a noticeable 5-points from February. 53% of respondents indicated that they think it’s a good time to buy a home. And perhaps more importantly, 61%  said they believe that now is a good time to sell a home. An increase for both. These numbers are not specific to Portland, but neither is the frenzied competition in real estate. All in all comfort is exactly what is needed for current homeowners to sell, thus increasing inventory and stabilizing the market. As confidence increases, the vaccine continues to rollout, and life starts to feel more normal again, “Summer is New Spring” may become the motto for listing houses. This year anyway. Are you ready? We are.

Overall Portland Prices:

  • Average sale price in the metro area for 2021 through March was $538,200 a 16.6% increase from this time last year.
  • The median sale price increased by 14.9% to $477,000 in the same comparison.

Interest Rates:

  • Rates have stayed steady at 3.125% 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.