The latest numbers are out and the MLS report for the Portland, Oregon metropolitan area (Click on the image on the right to see the entire seven page PDF) is available. The latest numbers show continued an increase in prices in the Portland area with the "inventory in months" dropping back down to .9 months, and the total market time at 27 days. This is up a tiny bit from earlier in the year, but 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. We are seeing a significant increase in homes and condos coming on the market though and for sure will see an uptick after the holidays as we always do. The average sales price for the metro area is now at $570,600, up 16.7% from October of 2020 with the median sales price up 16.4% at $506,500 during the same period.

The latest predictions are out from all the experts. This is for the national US market and is from Fannie Mae, Freddie Mac, Mortgage Bankers Association, HPES, Zellman and also the National Association of Realtors. As you can see the predictions range from a high of 7.4% to NAR thinking more like 2.8% and an average of all of them being 5.2%. Personally here in Portland metro I tend to think the 16%+ that we have been seeing is not sustainable and I bet we end up at about 6-7% or so with interest rates staying under 4%. Search for your home below!

While I have been a top selling Portland area Realtor for nearly 33 years now, many of you don't know that I have been also licensed in California for nearly ten years to help my Portland area clients buy and sell homes and condominiums in the Palm Springs area cities.

The market there is primarily a 2nd home market and since Covid happened has been booming even more than Portland. If you click on the image on the image here it will take you to a full multi page report from CDAR (California Desert Association of Realtors) talking about prices of homes and condos in the entire Coachella Valley. You can also scroll down below to search for homes in the valley covering cities such as La Quinta, Palm Desert, Rancho Mirage and more.

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