This month, Rob Levy one of Portland, Oregon's long time top producing Realtors since 1998 shares the latest updates in the Portland real estate market for December, 2020. Rob shares the inventory levels which are now at their lowest in recorded history of the MLS, as well as the new average sales price and how much it has gone up, along with predictions on sales price increases for 2021. Rob also shares how to compete with multiple offers using a simple form. You can also download the entire 7 page MLS report by CLICKING HERE

This chart shows the various agencies forecasts for home price increases nationally for 2021. These forecasts are from Realtor.com, National Assn Realtors, plus government agencies such as Fannie Mae and Freddie Mac and the Mortgage Bankers Association. All indicate price increases from 2-5.7%. If we average it at say 3%, then the average Portland area home which is currently valued at $492,000 will gain almost $15,000 in value over the next 12 months. Hmm, that covers several payments.

This graph shows what is a buyers, or sellers market as determined by the National Association of Realtors. So its fair to say that 6-7 months worth of inventory (meaning it takes 6 months on average for a home to sell) is a neutral market. Well, right now in metro Portland we have a ONE MONTH supply, so its completely a sellers market. If you are thinking of selling a home, now is the time to get top dollar, even in our normally slow season.

This is a stunning home close in SE Portland in the Richmond neighborhood. Major remodeling done on all three floors with gleaming hardwoods, a stunning cooks kitchen, formal living and dining rooms, family room, a master suite and even a bedroom suite with bath and kitchen downstairs too. All this with a walk score of 91! This incredible home is priced well at $924,900 You can see the full listing HERE or click on the photo, and there is a 360 tour link below too.

Thanks for checking out this newsletter, and thanks for supporting our real estate team for all these years. Many of you have reached out to me to talk about your real estate concerns. I love catching up with my clients and welcome your calls. Stay safe , ROB LEVY and CAITY ABOUAF