May Market Update — Portland Metro Area
The latest real estate stats are out for the Portland Metro Area, and they show a market that is picking up more steam. Prices are creeping upward, and many more homes are being listed and sold than this time least year.
What's it mean for buyers?
There are plenty of buyers out there, and although competition is not as fierce as a couple of years back, we are seeing more multiple-offer situations. As prices continue rising, buyers are smart to try hard to get into a house now, since there does not seem to be any relief on the horizon. And there are still some good deals to be found.
What's it mean for sellers?
Listings are on the rise and homes are taking longer to sell than last year, but there are still many buyers out there and prices continue creeping upward. Homes that are priced competitively with a strong marketing program are selling quickly. Anyone thinking of selling should reach out to a real estate agent to see what their home is worth and decide if now’s the time to list.
