Hope you’re enjoying the sunny days!
Portland’s real estate market has remained active this
summer. Home sales have been almost identical to last year and the
strongest in Portland since 2007. The number of homes for sale continues
to be lower than ideal at just 2.9 months of unsold inventory in the Portland
Metro Area and some popular area’s fewer than a month. This has put an
upward pressure on home values as determined buyers are often competing with
others.
Click here and read my summary below for an update on
Portland Home Values.
In Summary
The most compelling news remains with an overall 8% increase
in the average sales price of a Portland home this year. Many locations
as displayed below have been considerably higher. This is combined with
an approximate 12%-13% increase last year, and overall 33% increase since the
market hit its lowest point in 2010-11. The average price of a Portland
home right now is about $330,000. A median priced home is $285,000 (a
median value represents a mid-point with an equal number of houses priced above
and below this number).
How does your neighborhood compare to the rest of
Portland? I've compiled the following list of median sale prices by
geographic area:
Interest Rates are about 4.25%. Call Brent Schreiber
with Consolidated Community Credit Union at 503-872-9455 if you think it’s time
to refinance or buy. You’ll be happy with Brent’s experience and
commitment to serving his clients.
Please call me when it’s time to buy or sell a home.
I’ll work hard for you!
Darin
Provost, Broker
Vintage Real Estate
503-784-7626
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