Recent housing data from the Regional Multiple Listing Service (RMLS) shows Portland home prices continue to strengthen.
This ramp up in home values is due in part to a decrease in available properties for sale.
While a ‘normal’ housing market usually has 3 to 6 months of home supply, we’re now at only 1.2 months of inventory…and falling.
A Seller’s Market
With increased demand and dwindling supply, what’s happening in Portland real estate right now could be called a seller’s ‘perfect storm.’
That’s because we’re witnessing a combination of attractive interest rates and very low home inventory, which continue to fuel a rise in prices.
Even with growing home prices, current low interest rates help serve up a palatable real estate cocktail that could help buyers to afford their purchase…if they can just find a home.
The Rest of the Story
As you might guess, individual Portland neighborhoods can vary significantly on selling price, buyer demand and other key factors, like how long it takes for a house to sell.
Click here or on the above image to see the latest Portland area real estate figures. Make sure to check out page 2 for interesting stats on your nearby town or neighborhood.
Thinking about selling your Portland area home? It’s a wise move to sell in a seller’s market. Contact our sponsor, Certified Realty, for a free consultation of what your property could sell for in today’s market by using the convenient form below.