Scouting Report: Vol. 7, Issue 6 - Scout Realty Co.

Scouting Report: Vol. 7, Issue 6

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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.

Well, if you were hoping to hear that the real estate market totally leveled out in the last month, we’re sorry to disappoint you. That being said, the inventory did nudge up a bit from June and the number of new listings is up 17.5% from this time last year and 8.2% from last month. And, quite frankly, if the buzz of activity around Scout World HQ is any indication it certainly seems like more listings are coming. The extreme competition among potential buyers continues to drive up sales prices in the Portland Metro area. We have seen an impressive near 20% increase in the average sales price when comparing the first six months of last year to this one. Demand is still high and Portland doesn’t seem to be losing steam in that regard. We don’t have a crystal ball, of course, but we do anticipate a little slow down as we get closer to the start of the school year. When the market begins to feel not quite so frantic, it should give some comfort to those who have been waiting for things to settle before making a move (literally and figuratively). If you’re in that camp, and ready to start thinking about next steps for selling and buying, get in touch. Scouts are always good at sharing their opinions. Particularly when it comes to real estate.  

Overall Portland Prices:

  • The average sale price in the metro area for 2021 through June was $562,700, a 20.1% increase from this time last year.
  • The median sale price increased by 18.2% to $500,000 in the same comparison.

Interest Rates:

  • Rates have dipped to 2.875% 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.