Many Homeowners are finding themselves ABOVE water in terms of equity! The Portland/Metro real estate market is alive and well! Inventory is still incredibly low… only 2.9 months compared to 2.8 in 2013 and 4.6 in 2012 based on the most recent Market Action Report from the multiple listing service. What this means is that the homes that are being put on the market are being bought at a steady, STRONG pace. That also means our prices are rebounding nicely.
Other interesting information:
YTD Average Market Time before an offer: 73 days compared to 88 in 2013.
Average Sales Price: $331,400 compared to $307,100 in 2013.
YTD New Listings: 24,291 compared to 23,357 in 2013.
YTD Closed Sales: 15,368 compared to 15,467 in 2013.
If you would like more information about the current state of the real estate market and your particular area please don’t hesitate to call, email, or text.
Rachel Sheller-Realtor, Principal Broker