House Hunting In Portland Youre Hosed Pretty Much

Dated: May 14 2014

Views: 326

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
Source:
Blog author image

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 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

Why Fall Is A Great Time To Plant In Oregon Gardens

Come spring, excited gardeners drive to nurseries, load up their cars and go home to plant. That’s tradition. But fall planting also ranks high as a time to put plants in the ground.Nurseries may

Read More

Fannie Mae Cuts Origination Forecast For 2022

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022

Read More

How Long Does A Home Seller Have To Respond To An Offer

When you make an offer on a house, you might be wondering: How long does it take a home seller to respond to your offer?There’s nothing worse than sitting around waiting—especially when you’re

Read More

Forbearance Numbers Fall As Borrower Exits Remain High

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis

Read More