The most current Portland-Metro Real Estate stats are below;
March brought some gains to the Portland metro area, but all measures were
cooler than last year in March 2018. There were 3,504 new listings, a 43.4%
increase over February 2019 (2,444) but new listings fell 3.9% short of the
3,648 new listings offered last year in March 2018.
Pending sales (2,738) ended 5.4% below the 2,894 offers accepted last year in
March 2018 but rose 24.0% over the 2,208 offers accepted last month in February
Closed sales, at 2,183 in March, fared similarly, ending 7.9% below the 2,371
closings recorded in March 2018 but rising 26.5% from last month in February
2019 when 1,726 closings were recorded.
Inventory decreased to 2.2 months in March, with total market time decreasing
to 68 days. There were 4,808 active residential listings on the market in the
Portland metro area this March.
Average and Median Sale
Comparing the average price of homes sold in the twelve months ending March 31st of this year ($452,700) with the average price of homes in the twelve months ending March 2018 ($434,800) shows an increase of 4.1%. In the same comparison, the median has increased 3.9% from $385,000 to $400,000.
With all that said-It’s a good time to sell AND buy! Right now interest rates are very low overall. In the Portland-Metro real estate market we dropped to 2.2 months of inventory from 2.7 the previous month. The average “days on the market” (approximate time it takes to sell) is hovering at 68 days. This takes into account ALL Portland-Metro area (Scappoose to Welches). Every City and neighborhood is different-Call me to find out yours.
Here’s the exciting part! The average appreciation in value (increase in home values) is averaging +4.1%. That is amazing! This is an average, as some areas are seeing 8.2% appreciation, while one is at 0.0%. The market in 2019 is really heating up, but we are seeing signs of change. If your thinking of moving-Now is the time!
Please call, email, or text to talk about your home value, or the area your wanting to buy into.
Call me! Lets get you a great house!
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Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.I
Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First
Direct 503.380.9634, Email- firstname.lastname@example.org
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