October Residential Highlights
October brought some cooling to real estate activity in the Portland metro area, but pending sales were still on the rise this was the strongest October for pending sales in the area since October 2005. Inventory in the Portland metro area decreased slightly in October to 1.8 months. Remember 6 months is considered a balanced market. Anything under 6 months is considered a sellers’ market and above 6 months is considered a buyers’ market. We are in a STRONG sellers’ market right now. We have actually been in a sellers’ market for well over 3 years.
Total market time in holding steady at 46 days (Time it takes to get an accepted offer on your home).
Sale Prices and the Future of Real Estate
Prices continue to rise. The median sale price rose a whopping 7.0% for all areas (All neighborhoods are different-for your call, email or text me).
The interest rates are still very low making it affordable to purchase even though the prices are rising. The economic forecasts I have heard say we are in in for another year of increased prices!
This is very good news people! If you are waiting to make a more or wished you would of done it before the crash NOW is the time! Call, email, or text me for information on selling or buying residential property. You’ll be glad you did!
Five Star award recipient 2011, 2012, 2013, 2014, 2015 & 2016 honoring the top 7% of real estate professionals in Oregon.
IT’S A GOOD LIFE!!
Rachel Sheller-Principal Broker, Realtor, CRS, ABR, GRI, SRES,
Diversity Specialist, HOWNW-Oregon First, Realtors
Direct 503.380.9634 Email- firstname.lastname@example.org
View ALL available Houses on the market @ my Web Site-