The Real Estate Market Right now-The Portland metro area real estate market had an influx of listing on the market with a whopping 3,604 new listings that hit the market last month. Even with that surge of listings, we are sitting at a low 1.3 months of inventory on the market right now. Currently, it is a sellers market, with prices on the rise. Normally, you would think the scales would be tipped strong towards the sellers, and they are , except the interest rates are still very low, which helps to balance out the disparity. THAT, makes this the best time in history to jump in the real estate market! Prices are rising, but the low interest rates counteract the rise to some extent.
Total Market Time- The time it takes on average, to sell a home is sitting right at 58 days. Some areas its less time, and others its more. It also depends on how you price your home. You can still overprice your home in a sellers market and it will sit on the market. You don’t want that!
Average and Median Sale Prices-
Comparing the average price of homes sold in the twelve months ending March 31st of this year ($404,300) with the average price of homes in the twelve months ending March 2016 ($361,100) shows an increase of 12.0%. In the same comparison, the median has increased 12.2% from $315,000 to $353,500. THIS IS A WHOPPER!! Where else can you make those returns? Real Estate once again proves to be one of the very best investments you can make.
For more information on buying and selling in todays market, please call, email, or text me. I welcome and appreciate the opportunity to help you succeed in the real estate market! I hope to hear from you.
IT’S A GOOD LIFE!!
Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE
Diversity Specialist, HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors
Five Star award recipient 2011-2017 honoring the top 7% of real estate professionals in Oregon.
Direct 503.380.9634, Email- homesforyou@frontier.com
View ALL available Houses on the market on my website
Licensed in the State of Oregon
***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***
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