August Market Update — Portland Metro Area
The latest real estate stats are out for the Portland Metro Area, and they show a steady market with prices continuing to slowly climb. We are seeing fewer new listings and fewer sales, but we still have a lack of homes for sale, leading to plenty of competition on good homes.
What's it mean for buyers?
There are more homes on the market than this time last year, and homes are selling slower than they had been. Prices keep steadily increasing, and with rates on their way down, it’s expected that more buyers will enter the market. Anyone thinking of buying should be looking now, before more competition drives prices up at a steeper rate.
What's it mean for sellers?
Although sales have slowed, well-priced homes are still selling quickly, as there is a shortage of homes for sale. Anyone thinking of selling should investigate their options by talking to their realtor, since the market is still tight and any new homes that hit the market are getting a lot of attention.
