What will January and the new year of real estate in Portland bring us? Last year brought the residential real estate market back to almost neutral. I predict 2020 will stay on the same trajectory as last year with price increases leveling off and continued low supply of SFR houses for sale. Inventory right now is at 900 which is low even by the latest market trends.
For sellers, houses that are priced at or slightly below market value are getting multiple offers while others, priced aggressively, sit for longer than you would expect. The median sale price is now $589,900 and interest rates are below 4%. Buyers looking for up and coming neighborhoods are searching in outer NE, SE and North Portland.
To see a detailed market report, click the link below.
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