Portland housing market ‘still tough’ but ‘more logical’ – Portland, Oregon

Portland, Oregon 2021-06-22 23:03:03 –

The average selling price for a Portland home is $ 549,000

Portland, Oregon (KOIN) — The Portland region remains a highly competitive housing market as prices continue to skyrocket, but tours, offers and pending sales are beginning to slow.

The average selling price for a Portland home is $ 549,000. On average, homes sell 5% above their listing price and are put on hold just six days after they hit the market.

However, the market seems to have cooled to some extent as the temperature rises this summer.

Redfin real estate agent Meme Loggins Housing market Currently, it is “really unpredictable”.

“Now we’re in a funky place where we thought the flowers would bloom in the summer season, but not so many this year,” Loggins said. “It has slowed, but inventories haven’t recovered, it’s still a very tough market, prices continue to rise, and it’s really tiring for buyers.”

In this market, sellers are waiting for the right offer and people aren’t very quick to trigger a home.

“That is, it’s like there’s nothing in the market, it’s like it’s on the market instead of popping up and everyone doing it quickly at once. Let’s take a look at this and the streets. Let’s make a really good suggestion, “says Loggins.

According to Loggins, homes have recently received 4-7 offers, and popular homes have 7-9 offers. However, she said that buyers who can put together strong offers are more likely to succeed.

“Now it seems a bit more logical and a little better decision is being made. Maybe it doesn’t exceed $ 150,000, but it may still exceed $ 60-80,000, but unfortunately for now it’s It seems to make sense. “

Loggins has two tips. For sellers, don’t wait to enter the market as they are out of stock. If you can’t find what you’re looking for at an affordable price, wait a moment.

Portland housing market ‘still tough’ but ‘more logical’ Source link Portland housing market ‘still tough’ but ‘more logical’

Back to top button