Have you felt it? Real Estate is slowing down a bit. Its been almost a year since we have had 2 months of inventory on the market. This is not a bad thing. Actually, its a necessary market correction. We always have a cool down of the market in September after schools starts, but this year we started a little earlier, but on top of that we have correction on the heels of the annual change in the market. You’ve probably noticed many “price reduced” signs on properties for sale. We are still in a strong sellers market, but in order to get top price for your home staging and pre-listing preparations are the key(call me!~ I’m a “stager” at no additional cost to you-it’s part of my services). If you are purchasing a property this is the time you have been waiting for. There are more properties on the market to choose from.
Below are some current stats hot off the press!
The Portland metro real estate activity for pending sales, at 3,040, fell 7.9% short of the 3,302 offers accepted last year in July 2016 and 6.6% short of the 3,254 offers accepted last month in June 2017.
New listings (4,202) showed a 3.9% decrease compared to July 2016 (4,372) and a 11.3% decrease compared to June 2017 (4,739). Total market time decreased by five days in July, ending at 33 days. In the same period, inventory crawled up to 2.1 months.
Average and Median Sale Prices Prices continue to rise in the Portland metro area. Comparing 2017 to 2016 through July, the average sale price rose 9.3% from $391,600 to $428,000. In the same comparison, the median sale price rose 11.2% from $340,000 to $378,000
On top of these great stats (yes, they are great numbers! We are one of the very strongest markets in the Nation, despite out slight cool down), the interest rates are still very low, making it affordable to get a loan and buy relatively inexpensively.
That’s the latest and greatest in our fabulous real estate market! If you want to jump in, CALL ME! I can help! Lets talk about all your options! You might be suprised at how many you have.
IT’S A GOOD LIFE!!
Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Diversity Specialist, HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors, Licensed in the State of Oregon,
Five Star award recipient 2011-2017 honoring the top 7% of real estate professionals in Oregon.
Direct 503.380.9634, Email- email@example.com
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