A quick update on what’s going on in the Portland real estate market.
Today I’ll give you a quick market update and let you know what to expect from home pricing in the future.
In Portland, sales are up 12.5% from this time last year and inventory is up as well. However, because sales are so robust, they’re outpacing incoming inventory. The days on market are down 31.7% compared to last year so properties are still selling quickly. Despite being in November, we’re still seeing an increase in the number of sales. Prices rose more than 16% from last year.
According to experts, what we’re going to see in the future is that appreciation will lessen to about 15%, and home prices won’t decrease.
We still have a strong market and things are selling fast. If you have other questions about the market, feel free to reach out to me. I look forward to hearing from you.