Here’s what the Portland area market looks like (tri-county region data through July):
Inventory: 7 months (This is up one month from June data, but we’ve been consistent since March. This number indicates how long it would take to sell every Active listing at the current rate of sales. Inventories above 7 usually indicate a Buyer’s Market. Seller’s Markets typically have inventories below 4 months.)
Average Sale Price: $275,100 (This is up 3% from last month. We’re seeing homes below $300K selling very well if they are in good shape and priced reasonably. Mid-Upper range homes are also selling well when they are priced right according to location and property amenities.)
Total Market Time: 132 days (This has been consistent for the past two years, though it is not predictive of what any giving property will experience. As you would expect, attractive, well-maintained homes that are well-priced sell much more quickly.)
For a more in depth look, we can send you a report with all Active, Pending, and recently Sold listings in any area you find interesting (your neighborhood, or where you would like to live.) As you know, Portland neighborhoods have very specific appeals, and thus we have a number of micro-regions to analyze for accurate market data. Tell us what area you are interested in, and we will drill down to give you that analysis. This report can be as focused as you like, so let us know what is most important to you.
Thanks for working with us, and/or referring people to us! Our business is going strong thanks to your loyalty, and we very much appreciate it. If you are planning to make a move or simply curious about your home’s current value, please get in touch so we can prepare a market valuation for your property. We are happy to let you know what you can expect from today’s Buyers.
What is your house worth today? This is info almost everyone wants, whether you are thinking about selling or not. As we’ve been out and about with Buyers and on Brokers Tours, we are seeing that Portland pricing is still not as consistent as you’d expect. And we are still seeing issues with appraisals. As has always been true, correct valuation of a property uses nearby market data, and property-specific features to come up with market value. It is not as simple as pretty house, nice neighborhood; or “my neighbor sold for this and my house is better.” We rely on real data as well as insight into Buyer activity to guide you to the right price. Let us know if you’d like a value analysis.