April 2021 - Portland Housing Market Report Video
The stats were just released for the month of March, 2021 and while we are full steam ahead into the busy spring home selling season we are still seeing record low inventory levels at just 0.8 months. This matches our record low in December and is the lowest level of inventory in recent history making this a very strong sellers market. Low number of days on market, multiple offers and aggressive hopeful homebuyers removing contingencies have become the norm. Buyers are having to hustle & compete to get one of the few homes listed for sale.
All time low mortgage rates and pent up buyer demand have caused prices to soar over the last year pushing the average home price to $538,000 which is 17% increase from this time last year. The average days on market is 37, and I can tell you that in certain neighborhoods and price points, its more like 5. The average number of offers on a homes is 5 and it is not uncommon to see offers up to $40,000 over the list price and beyond.
If you are thinking for selling your home and want to maximize your bottom line and smoothly transition into your next house you need an experienced realtor with a strategic plan to make sure your real estate goals are met to your satisfaction. Home buyers, you will be entering an extremely competitive market and you need a Realtor who is knowledgeable and creative and above all, knows what it takes to get offers accepted. And just a little tip, it's not always about price.
So, if you are thinking of buying, selling or investing in Real Estate, reach out to me on my here on my website or send me a message at email@example.com.
I can't wait to hear from you.