February Market Update — Portland Metro Area
The February real estate market stats are out, and the Portland Metro Area continued to see slight price growth and strong sales. Even fewer new listings hit the market than this time last year, worsening our lack of homes for sale.
What’s it mean for buyers?
After an aggressive January, things seemed to level off a bit in February, which was great news for buyers. But there is still stiff competition as prices inch upward, and we still have too few homes on the market. There doesn't seem to be any relief on the horizon, so buyers are smart to stick with it and try hard to get into a home before prices rise further.
What’s it mean for sellers?
It continues to be a very favorable market for sellers. There are more buyers than homes for sale, so sellers are in a strong position in terms of pricing their home for sale and negotiating. Spring is typically the best season to sell, so anyone thinking of selling this year should connect with a realtor asap to get the ball rolling.
