Portland Real Estate Update |
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One of Portland's TOP Real Estate Sales Teams Since 1988 |
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Portland Market as of End of February |
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The latest numbers are out and the MLS report for the Portland, Oregon metropolitan area ending February, 2022. (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" staying the same at .8 months. 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 $584,100, up 10.5% when compared to the same month in 2021 with the median sales price up 10.4% at $519,100 during the same period.
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Selling Your Home? Now May Be The Best Time! |
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This image shows nationally how many offers were received on homes listed for sale in previous Januaries going back to 2018. You can see that this January (nationally) we averaged 3.9 offers on each home. Caity and I have seen many more locally, sometimes in the 20 plus offer range. For you the seller this means people outbid each other in the climb to the top and also loosen contingencies. So if you are looking to sell, this is an amazing time! |
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Buyer Income Still Greater Than Required |
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This chart, also a national comparison shows the median family income needed to qualify for the average home, in comparison to the median family income - by region. If we focus on the west here in Oregon note its also lumped in with California, which is a very expensive housing state. None the less, the same ratios apply to the Portland Metro area, where even with the median home at $519,100 its still under the median of $78,239 (back from 2019, the latest stat I could find). |
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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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