Portland Real Estate Sees Prices Move Higher But Volume Remains Low

  • The Average Sale Price moves Up 5% from the previous couple weeks of low numbers and Up Almost 4% vs Last Year at this time.  

  • Mortgage rates held at 625% for the 30-year fixed (best case scenario) with most lenders over 7%.  The Fed Board indicated on Wednesday that they're in no hurry to lower the cost of borrowing money.   

  • On average, sellers had to discount about 2.5% off their original asking price to secure the successful sale of their property.  There are neighborhoods and segments of the market in the metro area where homes are starting to see multiple offers with offers well over the asking price.  Location, Price and especially Condition are key to selling quickly and for top dollar.  

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