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Portland Real Estate Market Conditions
Portland Real Estate Market Conditions June 2011
The June numbers are out. Now we have half a year of information about the Portland real estate market, prices of homes for sale in Portland and how many homes are selling compared with last month and the previous June. To compare June 2011 figures with May 2011 check my previous market conditions blog. A snapshot of the Portland real estate market for Buyers and Sellers: Portland home prices continue their gradual rise. Since January 2011 the median sold price for Portland homes has increased $7,900. (See the chart below.) As prices start to rise and interest rates remain at near historic lows, the number of homes available to buy has shrunk. There are getting to be...
Read MorePortland Real Estate Market Conditions May 2011
Here’s the latest information about the Portland real estate market for May 2011. It’s a slow but steady upward trend in the Portland real estate market. The median sold home price has shown a small but consistent upward trend every month of 2011. January 2011’s median price was $215,000. In May the median price is $220,000. Portland home buyers: It’s time. Let’s go look at homes! To compare May 2011 figures with April 2011 check my previous market conditions blog. A snapshot of the Portland real estate market for Buyers: In general, May figures (as reported by the RMLS) are improved over April’s numbers. There are more closed sales than in April,...
Read MorePortland Real Estate Market Conditions For April 2011
Here are the latest figures for the Portland real estate market for April 201 (courtesy of RMLS). In a quick summary, the market is worse than this time last year, but shows steady improvement for the first four months of 2011. To compare April 2011 figures with March 2011, check my previous blog. A snapshot of the Portland real estate market for Buyers: If you are thinking of buying a home in Portland, now is a good time to act. The number of homes to choose from is shrinking and prices are starting to rise. They are currently at 2004 home price levels. With interest rates still under 5% for many borrowers, there are many good opportunities to buy a home in...
Read MorePortland Real Estate Market Conditions for March 2011
I wouldn’t call it a real estate boom. But we’re definitely moving in the right direction. Closed sales are up, pending sales (in escrow) are up. In addition there was a small increase in new listings compared with last month. We are slowly returning to a more normal market. To compare March 2011 with February 2011, check my previous market conditions blog. A snapshot of the Portland real estate market for buyers: The median price for a home in Portland is $215,000. Prices in the Portland real estate market may be starting to bottom out. Here’s what’s happening. First there is a significant drop in number of homes for sale in Portland. More buyers are closing on...
Read MorePortland Real Estate Market Conditions for February 2011
February’s numbers for Portland real estate sales are now available. They look a lot like January’s. There are less active and new listing homes for sale in Portland and the metro area. However in February there were more closed home sales than in January or in the previous February. To compare February 2011’s numbers with January 2011, check my previous market conditions blog. A snapshot of the Portland real estate market for buyers: While the number of Portland homes for sale to choose from is going down (through homes being sold and less homes coming on the market to replace the inventory), prices appear to be stabilizing. The median sale price is now $213,700....
Read MoreHow bad is bad? The drop in Portland real estate values
How much did we lose in Portland real estate value? The numbers are in for the entire past decade now. What’s your guess? Is the median sales price for a home in Portland down to the level it was in 2000? 2002? That’s what most people say when I ask the question. (I frequently write about the Portland real estate market. Check out my other blogs here.) There has been so much bad news in the media about falling values. Everyone thinks we’ve lost the entire decade’s worth of home appreciation. Buyers think they should be able to purchase a Portland home for the same price as in 2000. Sellers who bought their home in 2001 or 2002 think they would...
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