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

Scouting Report: Vol. 7, Issue 7

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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, here we go again. With cases of covid rising in Portland and a mask mandate in public places going into effect at the end of the week, it’s starting to feel like we have been kicked back to the beginning. And, honestly, it seems like a lot of us are feeling the strain and stress that we are still living with this virus. This time last year is when we all collectively realized that quarantine and lockdown were going to be parts of our lives for a while. So, it makes sense that it was July of last year that we began to see that the noticeable changes in the Portland real estate market as more of a trend than a blip. Since then inventory has fallen to record lows and supply and demand did just what you’d expect: average sales prices steadily increased. As in a whopping 19.4% when comparing the whole of this year to the same period of last. You know the story. We’ve been sharing it every month. And after all we’ve been through, you should also know that you got this. We got this. Hang in there, kitties. 

Overall Portland Prices:

  • The average sale price in the metro area for 2021 through July was $567,800, a 19.4% increase from this time last year.
  • The median sale price increased by 17.2% to $500,000 in the same comparison.

Interest Rates:

  • Rates hold steady at 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.