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.
You want to know how little housing inventory we have in Portland? Check this out: The number of new listings in January increased an insane 48% from December…and that was still about 6% fewer new listings than this time last year. Can we get a “WHOA”? Classic supply and demand principles are driving the current Portland market. We have a mere 1 month of inventory available to potential homebuyers and that is driving up house prices. Average sales price in the Portland Metro sits at $514,700, which is just over 11% higher than last year. So, what now? It’s probably pretty safe to assume that the Spring real estate market is going to hit Portland early. If you have been thinking about selling, this is your time. To our buyers out there: steel yourselves. Try not to fall in love too hard and be ready to fight. Competition is as high as it’s ever been and winning an offer is going to take some planning. When it comes down to it, we firmly believe that there is a house for everyone, and Scouts are here to help.
Overall Portland Prices:
- Average sale price in the metro area for 2021 through January was $514,700 a 11.2% increase from this time last year.
- The median sale price increased by 13.3% to $460,000 in the same comparison.
- Rates have increased slightly to a still low 2.75% 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.