Market Data

Good piece today on local Real Estate – essentially this matches what we’ve been seeing. Inventory has been coming down, but this hasn’t translated to higher values. Nor has it changed the power balance in Buyer/Seller negotiations. We are still in a Buyers’ Market, though smart Sellers that price according to real market data are selling very well.

Ranchy Goodness

Our Ranch Featured in Atomic Ranch Magazine

We are the proud owners of a remodeled ranch  featured in the Fall issue of Atomic Ranch magazine. The feature is called Bright Idea, the idea being ‘let’s remodel since we have to re-pipe the house!’ The bright part must refer to our committment to light coming through big windows, because I am not convinced it was a super smart thing to do. Our choice to do something so extreme was exciting to be sure. After living in the house for 10 years, we had a number of ideas about what to do. However the real impetus to do everything at once was made because the process of remodelling was CRAZY, and we knew we never wanted another contractor to step foot in the house again.

By being published, our decisions are now put before the public. (Boy, the debate between the Restore vs. Remodel camps is robust.) We love mid-century homes whether they are time capsules, or have been redone. The designs tend toward open plans, public rooms separate from private rooms, hardwood floors, and picture windows making the houses extremely easy to live in. The construction tends to be excellent, although you should expect some plumbing issues at some point if the home still has galvanized pipes (as we know firsthand.)

Portland has ranches and mid-century homes in almost every neighborhood. If this is what you’re looking for, let us know. We can help you find your dream home, just like we found ours. And if you own an Atomic Ranch already, and are thinking of selling, we speak the language and would love to list it for you.

In somber times, the optimism of the Atomic Age can be a fun reminder that nothing lasts forever. Cheers!

Portland RE Market Looks To Be Stabilizing

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.