Portland Real Estate Update |
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One of Portland's TOP Real Estate Sales Teams Since 1988 |
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Portland's Home Inventory Lowest in History |
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The latest numbers are out and the MLS report for the Portland, Oregon metropolitan area for the full year 2021. (Click on the image on the right to see the entire seven page PDF). The information shows a continued increase in home and condo prices in the Portland area with the "inventory in months" dropping back down even more to a mere .6 months, the lowest in the history of the MLS. This continues to be caused by in-migration as well as a severe lack of inventory, especially new homes which take years to plan, plot and build. (Keep in mind a "balanced" market where its equal for buyers and sellers is said to be about 6 months of inventory, and we are less than a month). The average sales price for the metro area is now at $571,900, up 15.8% when compared to 2020 with the median sales price up 15.7% at $509,000 during the same period.
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Rob's 2022 Housing Forecast |
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I did this one a couple of weeks ago, and may need to update it already as the market in early January has gone nuts.... Huge lines at open houses, fully booked showings, multiple offers on homes. In this video we talk about what the "experts" are saying we should see for mortgage interest rates and also home appreciation in 2022. As I type this in early January, we are already seeing mortgage rates hovering around 3.5%, but that's still amazingly cheap compared to most of the 33+ years I have been selling homes. If you are thinking of selling, now is an amazing time and for buyers its not too late to capitalize on those still low rates! |
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Homeowners Staying in Homes Less! |
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For the first time in many decades, people are staying in homes for less than they were. When I became a Realtor back in 1988, it was about 5-6 years and as you can see in this chart that pretty much doubled starting 10-12 years ago. Now we are seeing boomers selling their homes to downsize, along with millennials (finally) buying their first homes, or upsizing theirs. As a result the average time is down from 10 years to 8 years - a 20% drop. |
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Rob is now a Docent at the Air Museum |
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Some of you may know I have been a WW2 aviation fan since birth really, probably had a lot to do with being born post WW2 in England, and raised in England and France to British and Turkish Jewish parents. I also have had my pilots license since I was 18 and owned planes. I combined these loves along with my love of vacationing in the Palm Springs area to be a docent at the Palm Springs Air Museum when I'm down there on vacation. This is a top rated air museum, one of the top few in the world. When in town check it out, or sign up below for "Warbird Wednesday" emails! https://palmspringsairmuseum.org/
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Search ALL Portland Area Homes |
Click on the link below, or the image to search the Portland area MLS for all single family, condo, or multi-family homes in the Portland metro area. The site also includes some pre-defined common searches on the right side, and also always shows the most recent 20 listed properties in the metro area. Be sure to SAVE your search, that way you will always be notified of any new matches as they happen. www.allarealistings.com/
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Search Palm Springs Area Homes |
As many of you know, Rob Levy is also licensed in California with Keller Williams Realty and sells investment and vacation homes to many of his Portland area clients. You can check out all the homes and condos in the Coachella valley cities of Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Indian Wells, La Quinta, Bermuda Dunes, Sun City and Indio by clicking on the link below or the picture. www.AllDesertListings.com
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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
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Give Us a Call
(503) 906-1444
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Now More Than Ever, Experience Matters |
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The Rob Levy Team, Rob Levy Principal Broker and Caity Abouaf, Broker
Keller Williams Realty Professionals / Main Office (503) 546-9955
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