April Market Update — Portland Metro Area
Last month’s stats showed a market that is really gaining momentum. Sale prices are inching up a bit, while the number of homes that are being listed and sold have gone up dramatically compared to this time last year. It definitely seems like things are opening up a bit, with more people deciding to sell their homes and plenty of buyers being ready to make strong offers.
What's it mean for buyers?
It’s getting tough out there. Prices continue to go up as we enter the time of year when prices really tend to accelerate. There are more homes on the market than this time last year, but sales are up as well, and we’re seeing a lot of multiple-offer situations for well-priced, solid homes. Buyers would be smart to keep looking and trying to get into a new home before things get harder.
What's it mean for sellers?
The next few months look phenomenal for sellers. While there are more homes for sale than this time last year, there are a lot of buyers out there as the interest rates become more normal to people. We’re seeing strong offers from motivated buyers, pushing prices up slightly every month, and the next few months look to bring more of the same.
