Friday, July 14, 2017

Portland Home Values - July 2017

Summer is in full swing! The longer days and warmer weather is getting people outdoors including home buyers. It's a perfect time of year to catch up on those house projects, and if the timing is right for you get your house on the market to sell.

For home buyers, the unseasonable cooler spring gave some reprieve to the competition. While it's still a Seller's market with just 1.6 months of inventory for sale, the number of homes sold this year is down 4%, and in many cases we're seeing price reductions from Sellers a little over zealous. If you've been thinking about buying a home, this is probably the best summer you've had since the market rebounded in 2013. 
Click here and read below to see how this can benefit you. I’ll be sending this email periodically to a large group of clients and friends. Just let me know if you’d rather not get this.

The average price of a Portland home is currently $440,600 - an increase of 10% over the past 12 months. It was in 2012 when I reported to you the average price of a Portland home hit a bottom of about $245,000!

New Listings are on the rise as expected for June and July by 8%. June was the strongest month for homes put up for sale since 2008.

30-year fixed mortgage interest rates are about 4% to 4.5%.

I've finally found out how to make a million dollars in the real estate business. You start out with two million!

Call me when it’s time to buy or sell a home. I’ll work hard for you!

Darin Provost, Broker
Portland Digs Real Estate