Spring has sprung and as our spring selling season kicks into high gear, current market conditions make it a great time to buy or sell a home. We’ve had some great local economic news lately. Oregon’s unemployment rate dipped below 4%, the first time on record. Mortgage rates are currently around 4.25% after a recent dip. Call me with any real estate questions. I’d love to help!
Portland Metro Real Estate Market Update
Stats provided by RMLS Home Sales Report March 2017
The Portland metro area had a sunny month for new listings this March. At 3,604, new listings outpaced March 2016 (3,409) by 5.7% and February 2017 (2,521) by 43.0%. This was the strongest March for new listings in the area since 2010, when 4,987 were offered for the month.
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.
Mt Hood & River Views in SW Portland
3 bedroom, 2.5 bath + office
2995 square feet
Close to PDX, OHSU, John’s Landing & Sellwood
Offered at $945,000 – RMLS # 17566544
Contact me for more information/details on this or other properties.
Bidding wars: Fevered Portland homebuyers pay more than asking price