Welcome to the PortlandMarketWatch.com Blog

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

Portland real estate prices continue to hold steady with prices channeling in what appears to be a tightening gap between highs and lows. Median list price for Portland is currently at $549,400 according to Altos Market Research. Inventory is also holding steady with RMLS reporting 2.3 Months of Inventory for August, 2019. This is the 7th straight month that inventory has remained in the 2’s. Anything below 3 months of inventory is still considered a “seller’s market” although buyers are pickier and more knowledgeable now compared to any time in the past. This could be a reason that 53% of listed homes in Portland have undergone a price reduction.

Of concern – closed sales are down 3.3% year-to-date in Portland. This doesn’t seem like a big move compared to 2018 – but this will mark the 4th consecutive year in which volume (closed sales) has dwindled. In our National Market Snapshot, Core Logic notes high levels of investor demand for real estate. This may be true across the country, however Portland investors are treading cautiously as news continues to spread about restrictive regulations the Portland City council enacted. If the investor segment of the market dries up – volume will continue to shrink and prices will be impacted.

On a positive front, the cost of money remains incredibly low with a 30-year fixed rate mortgage at only 3.875%. First time homebuyers are finding that the cost of ownership is cheaper than renting in many cases. This factor alone should help stabilize prices going forward.

 
Blog Archive
2019-11-15 15:08:46
Market Update :: November 2019

2019-11-14 13:32:48
5 Steps to Finding Your Next Home

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

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

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