- Kate Fulford
Portland Market Action: HOT
I think we all know we're experiencing an incredibly hot market right now with low inventory. But it's mega low. The lowest of the low!! The inventory for June 2015 was a staggeringly low 1.6. This means that it would take 1.6 months to sell all the homes currently for sale. Last summer, it was 2.8. In a balanced market, that indicator would be 6. This is why homes are going pending within days with multiple offers - there simply isn't enough inventory for all the people who are hot to buy!
Values continue to rise as well. The median sale price rose 7.1% from $280,000 last year to $300,000 this year. That number continues to rise each month - making it a good time to buy/invest.
I'm happy to help with your real estate endeavors!!