Portland Oregon Real Estate Market Update - Median Sales Price is Down and Interest Rates are Up
The Portland Oregon Real Estate Market is stumbling out of the gates to begin September. Comparing the first 10 days this month to last, the Median Sales Price is DOWN 5.69%.
To add fuel to the fire are Interest Rates. The Average Conventional 30 year Mortgage Rate hit 7.07%. That’s the highest it’s been in over a year. What does this mean to you if you’re selling and how will this impact your ability to Buy?
Let’s get into it and take a closer look at the Portland Metro Area Real Estate Market.
Let’s go deeper…
Whether you’re buying or selling this market demands knowledge of data BUT even more so if you’re selling.
And I’m not just talking about Pricing Data. It’s imperative to know what drives Buyers to come inside and look at your home:
What works
What doesn’t
What’s more effective
The longer you’re on the market as a Seller the better for your potential Buyer.
This is not a market to “Test a Price” or “Build in Cushion for Negotiation” or “wait and see”.
This is a time for Action - Right out the gates.
As a Seller you need to remove EVERY obstacle within your power for a Buyer to want to purchase your home. And your Listing Broker better know how to get Buyers into your house - QUICKLY.
Buyers in this Market have Leverage!
HOWEVER if you get an offer early on, within the first 10 days - You will maintain the upper hand…
That's it for this week's market update. When it's time to make your next move - I’d love the opportunity to be your real estate broker.
Dean Carver | Oregon Real Estate Broker
Serving Portland area home buyers and sellers.
Comments