Wednesday, October 5, 2011

Home sales in the Portland Metro Area grew almost 31% in August from last year. This has been a trend for the summer and is combined with a decrease in the number of homes placed up for sale. Read my summary below to see how this may benefit you.

Click Here to view some Portland Real Estate Statistics produced by our Multiple Listing Service.

In Summary:

Home sales increased 31% in August as compared to 2010. This a great news for Portland Home Values. The number of homes sold in Portland has steadily increased over the past 3 years indicating the market is stabilizing and Portland Home Values are beginning to rise. The average cost of a home in Portland is currently $271,800 – up almost 11% from 6 months ago.

Homes that are priced to attract a buyer are selling quickly with multiple offers.

National Home Prices continue to show seasonal strength according to the S&P/Case-Shiller Home Price Indices. U.S. home prices have shown a four consecutive months of increases. “With July’s data we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “This is still a seasonal period of stronger demand for houses, so monthly price increases are expected. The exceptions were Las Vegas and Phoenix where prices fell, while Denver was flat. The better news is that a majority cities saw their annual rates of change improve in July.

Homes Are Affordable. First-time buyers can find quality homes priced around $200,000. Higher-end homes are affordable to middle-income wage earners. And, it’s a great time to buy investment properties.

Mortgage Interest Rates are BELOW 4%!

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Do you know someone looking to buy or sell a home? Please have them call me at 503-784-7626.