Portland Real Estate Market Update- March 2021

The real estate market is not actually as “crazy” or “impossible” to buy or sell a home or sell at the same time as buying (“the contingent offer dilemma”) as it may appear.  We put four buyers under contract in the last two weeks!

Fact: homes sales are up 7.3% in the Metro area for the first three months of the year.

Fact: a lot of these homes are sold before they hit the market.

So what appears to be a very low inventory is actually just a low “active” inventory. By relying solely on the Internet to search for homes you could be missing 80% of what is actually available or coming up soon.

More inventory is beginning to hit the market.  New listings were up 40.1% in March compared to February.  Our team has 8 listings coming up in the next few weeks alone!

It is a competitive market for buyers but interest rates dropped 0.25% since last month which will increase your buying power, and once you enter homeownership you will be benefit from the fast rising prices in equity in your new home.  

Call your Realtor. They can help. If you don’t have one, call our team at 503-784-9940. We can assist or help you locate someone.