By Katie Bain
PORTLAND, Ore. – The Portland Oregon Real Estate
Market continues to be HOT right now.
There are currently 3,606 homes for sale across
Portland and the median list price is $365,000.
The average Portland Home is spending about 40 days
on the market, has close to 2,000 square feet and is receiving multiple offers.
1 Percent Inventory Increase since May 2015
Inventory across Portland has increased by 1 Percent
since May 2015, while sales of distressed homes like short sales and
foreclosures have remained the same.
The Right Time to Buy
If you’re thinking about buying a home in Portland
Oregon, right now there are plenty of homes for sale, and with mortgage
interest rates still hovering around 3.75 – 4.0% percent for a 30-year fixed
mortgage loan now is a perfect time for you to buy if you want to get the most
value for your money.
What to Expect This Summer
Right now we’re seeing sales increase across
Portland and this can be attributed to the summer selling season. Thanks to warmer, drier weather we will have
more people selling their homes compared to the spring and fall months.
To avoid your offer getting lost in a haze of
multiple offers you should do the following:
Step 1 – Get pre-approved for a mortgage loan
Step 2 – Be certain about the home you want to
purchase and don’t hesitate to submit an offer.
Step 3 – Don’t be afraid to submit a letter to the
homeowner with your offer since this will help your offer to stand out among
To learn more about local Real Estate market
conditions contact me, Katie Bain, Realtor ® with EquityPoint Real Estate by
calling me at (503) 595-8800.