Am I sounding like a broken record yet? The seller's market continues to dominate the news...with only 1 month of inventory available, you can feel the heat. This lopsided equation has started to make a real show in appreciation numbers...over the last 12 months, we have seen a 15% appreciation of the median sales price. We haven't seen that kind of price jumping since the mid 2000's right before the financial meltdown.
Don't expect to see any slowing of this trend, as interest rates continue to be hovering around 3% and pent up demand will take years to satisfy. And even though you wouldn't know it by reading the Oregonian, folks are still hot to move here. I do see a bit of a shift in inventory, and expect that the numbers will look slightly better next month as anyone even thinking of selling has gotten the news, and last week we saw way more inventory entering the market. Give me a call if you are wondering how all of this affects your Real Estate plans.
View the most recent report here>>
Bonus: Hasson put together a 2020 year in review for the Portland market that echoes much of what we've been seeing and talking about since the onset of the pandemic. There's also a bit of celebrating the incredible work of the Hasson team last year!