House Hunting In Portland Youre Hosed Pretty Much

Dated: 05/14/2014

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The summer buying season has barely started and the noose already is tightening around Portland’s residential real estate market.Portland posted one of the tightest markets in recent years in April as the inventory of unsold homes dropped to a 2.8-month level, well below the five to six months that is considered balanced. That ties with the record set last July, according to figures released Tuesday by the Regional Multiple Listing Service.April’s average sale price of $332,600 was 9.9 percent higher than a year ago and 1.4 percent more than in March. For the year to date, home sales are averaging $325,100, 10.7 percent more than the same period in 2013.There were 3,629 new listings in April, up just 0.2 percent from a year ago, while pending sales fell 4 percent to 2,825 and closed sales remained relatively even at 0.8 percent.There were 6,093 active residential listings in April, compared to 6498 for the same month in 2013 and 8,523 in 2012. m
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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