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2019-10-18 13:01:27
Market Update :: October 2019

Portland real estate prices are showing signs of weakness as inventory for Portland-Metro rose to 2.8 Months. Only 2 months recorded higher inventory levels since February, 2014 – and those two months are September, 2018 (3.1 MOI) and January, 2019 (3.3 MOI). While median list price is holding steady at $549,900 for Portland city – inventory is rising, days on market are going up and surprisingly 55% of homes on the market have undergone price reductions.

Current market barometers may not be so rosy – but long term charts indicate that late October and early November often mark the bottom of Portland’s cyclical real estate market. Inventory may be rising – but the fundamentals are still strong. Mortgage rates are still at historic lows (3.875% for a 30-year fixed rate mortgage) and a strong economy is helping families across all income brackets. Bottom line – as prices continue to stabilize, homes are becoming more affordable. For those looking to jump into the market, the rainy season is upon us and prices appear to be at the cyclical “bottom” – now is an excellent time to be bidding on properties.

 
Blog Archive
2019-10-18 13:01:27
Market Update :: October 2019

2019-09-17 12:13:38
Market Update :: September 2019

2019-09-16 17:45:20
National Snapshot: How's the Real Estate Market?

2019-08-15 16:37:39
Market Update :: August 2019

2019-08-15 16:25:03
Will Your Remodel Pay Off? The Best (and Worst) Ways to Spend Your Budget

2019-06-22 18:38:27
Serious About Selling?

2019-06-21 14:11:31
Market Update :: June 2019

2019-05-17 14:18:03
Market Update :: May 2019

2019-05-15 14:36:49
'Spark Joy' for Buyers

2019-04-17 12:15:09
10 Home Buying Myths

2019-04-16 15:11:29
Market Update :: April 2019

2019-03-15 15:11:26
Market Update :: March 2019

2019-03-14 12:27:21
7 Things To Avoid After Applying for a Mortgage!

2019-03-01 14:50:35
Market Update :: February 2019

2019-02-26 12:13:13
Design Trends for 2019

2019-01-15 12:11:43
Market Update :: January 2019

2019-01-14 10:31:24
January 2019 Report: What’s Ahead for Real Estate in 2019?

2018-12-05 12:08:14
Market Update :: December 2018

2018-12-04 16:40:04
‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home

2018-11-06 11:54:46
Are You Covered? A Homeowner’s Insurance Guide

2018-11-06 10:41:43
Market Update :: November 2018

2018-10-17 13:40:46
'How's the Market'

2018-10-02 13:43:46
Market Update :: October 2018

2018-10-02 13:42:42
Market Update :: August 2018

2018-08-31 12:22:39
Portland Heights OPEN HOUSE

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BrianSpear
(503) 515-9374
Spear@JMAProperties.com
Licensed Real Estate Brokers in the State of Oregon

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