And in partnership with Pat Weiss*
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Portland Real Estate Update |
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Over 70 Years Combined Experience, Since 1988 |
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Portland Market as of August 31st, 2023 |
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The metro Portland real estate market is doing what we thought... A severe lack of inventory has caused market time to actually drop from 2.4 months to 2.2 months. Well priced at market homes in presentable condition are selling well. Basically what's going on is only the "have to's" are selling, meaning due to the interest rates many are putting off selling. Many listings are death, relocation, divorce etc rather than someone wanting to move. As a result when we compare end of August 2023 average sales price with the same date in 2022, prices are actually DOWN 3% from $619,200 to $600,500. Keep in mind this is for all property types in all areas of metro Portland. Condos are lower, single family homes are higher and the investors are buying, we just closed a duplex with two offers on it. MAYBE you should be buying too, right now homes are available at a discount. CLICK ON THE IMAGE ABOVE TO DOWNLOAD THE ENTIRE 7 PAGE PDF FILE
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Inflation and 30 Year Fixed Rate Mortgage |
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In this video, I speak to mortgage rates looking back to 1971 and also the CPI (inflation) and its history of affecting interest rates. More specifically we show charts to see the lag between falling inflation and falling interest rates. I'd love you to watch the video, and let me know what you think please! |
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Featured Home of the Month |
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This month's featured home is a home in Canyon Creek neighborhood in Wilsonville. Its a great home, first time ever on the market since new and has tons of space. There are two master suites on the main floor, and also a massive upper level for a 4th bedroom or more! Click on the photo to see 48 photos and a full tour of this great home!
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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 for supporting our real estate team for all these years. We are always available for you. ROB LEVY, CAITY ABOUAF and PAT WEISS
*Pat Weiss is licensed with Oregon Referral Partners, LLC. Same address as below.
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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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