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 January |
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I'm sorry I am a little late getting this one out, its been a super busy month for Caity and I. The latest numbers are out and the MLS report for the Portland, Oregon metropolitan area ending January 31st, 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" picking up a bit to a mere .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 $586,600, up 14.0% when compared to the same month in 2021 with the median sales price up 11.3% at $512,000 during the same period.
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How Are Home Prices Affected by Rising Interest Rates? |
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At a time where people are reacting to interest rates at and above 4%, I thought I would put this video together to talk about how home prices are affected. Remember, our mortgage interest rates are still super low by historical standards. Here in Portland we still have a major inventory shortage, a serious shortage of new home and a continual in-migration of new Oregonians, especially to metro Portland. Let me know what you think of the video! |
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2026: How Much Will My House Be Worth? |
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The experts have spoken, the surveys have been done and the image here shows the results. Looks like the average of all is 43.3% house price appreciation in the next four years, with optimists saying as much as 62.5 % and pessimists being as low as 23.7%. Please note these are national statistics, here in Portland Oregon we face the same issues we have for years... a constrictive urban growth boundary preventing much new construction, high permit costs and time delays causing expensive lots and a continual in-migration (we were #4 in the country in 2021). |
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Homeownership is a Hedge Against Inflation |
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This slide is home price appreciation vs. the consumer price increases over the decades and its interesting. Over time home values seem to perform better than the inflation rate. What this means going forward is someone can lock in today at the current cost and protect themselves against the rising cost of inflation with the monthly payments . Owning does not have the inherent risk of rising rental prices year after year. Even with today's rates at and around 4% interest rates can be locked for 30 years and more which is still cheap by historical standards |
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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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