Real Estate Market Report For Portland, OR April 2023
Hey Everyone! I’m back with the Real Estate Market Report For Portland, OR April 2023. These stats are important for you if you’re thinking of buying or selling your home in the Portland area this spring or summer. So …
I thought I’d get them out to you now as we head into the spring selling season! I hope your Easter was lovely with family and celebrating the Lord’s resurrection!
Let’s look at the stats.
Time on market has dropped to 57 days down from 71 days last month (February) that’s a 19.1% drop in time! This means your home may sell faster than previously thought.
Our average price is increasing slightly, up 2.7% to $584,500. This of course means there is potential for more money in your pocket at closing. This isn’t such good news if you’re looking to buy but it should tell you the longer you wait the more you may have to pay for the same house tomorrow.
Portland metro market had an almost 50% increase in homes that have been listed. We had 1,764 in February and in March we saw 2,623 new homes come on board! However this still represents a 25% decrease from our prior years.
Lastly, closed units increased 21.7% from February to a total of 1745 homes sold.
Rates are dropping slightly, which means more buyers will be entering the pool again, which in turn means what?? Multiple offers are returning and becoming a trend again!
If you’re on the edge of buying lets talk strategy and get one of my lenders I work with in to help with the affordability logistics! I have amazing lenders in my corner, and I’m just a text or call away!
Enjoy your week everyone!!
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