We are well into February and the latest stats show some changes to the real estate market. If you are a seller, the lack of houses available is creating strong demand. Supply of SFR houses is around 800 units which is only about 2 months worth if no new listings are added. Prices are rising slightly with the median list price at $599,950 and days on market (DOM) is starting to drop again as well.
What does all of this mean to you the buyer or seller? Buyers face a competitive market for move-in ready homes priced right in the Portland metro area. Sellers, now is a great time to list your house for sale with the low inventory and weather starting to heat up.
To see a detailed market report, click the link below.
Questions about buying or selling property in Portland or the surrounding area? I am here to help with all your real estate needs, call or text: 503.891.4725.