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.
Wowee! Inventory has dropped again to the second lowest on record. We definitely continue to feel the effects of not enough houses for too many buyers, even in the slow season. We always expect things to get a little quiet around this time of year, but the number of listings has dropped a substantial 31% from last month. To be honest, considering how competitive the market has been since the start of the pandemic, the break is a welcome one for agents, buyers, and those who have been nervous about selling. The general consensus is that the Portland real estate market is going to pick back up early in the New Year and it will be strong. We fully expect to hit the ground running in January and if you are looking to get into the market it is probably a good idea to take advantage of this little December breather to think, plan, and regroup. Enjoy the holiday season, friends! We’ll be here when you are ready.
Overall Portland Prices:
- The average sale price in the metro area for 2021 through November was $571,100, a 16.1% increase from this time last year.
- The median sale price increased by 16.2% to $508,900 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.