Welcome to the Summer update for Portland Oregon.
Residential real estate has been selling fast and for more than I would have expected this Summer. I witnessed numerous houses sell for 40-60k over asking price within a week of going on the market in outer NE Portland. The competition for first time home buyers has been tough but I do see a change as I write this following Labor Day.
My guidance for the rest of the season for sellers is to price their houses competitively as days on market are getting longer and price reductions are becoming the norm. We are still in a Seller’s market but it feels more balanced as we head into Fall.
At KOVER Realty, we are vaccinated and continue to follow state guidelines for COVID.
To view a detailed weekly market report from my preferred title & escrow partner click below.
Thinking about buying or selling property in Portland or the surrounding area?
Call or text: 503.891.4725.