Real estate activity has picked up in Portland, and closing sales led the way. The 2,457 closings in March represented a 32.3% over the 1,857 closings that were posted at the end of Q1, and a 49.1% increase. Comparing the average price of homes in Q1 of this year ($332,000) with the average price of homes sold in Q1 2014 ($322,700) shows an increase of 2.88%. In the same comparison, months of inventory have decreased 38.71% from 3.1 to 1.90.
What does this mean? Low inventory for buyers means NOW is the time to SELL, and all time low interest rates means buyers are buying. Contact me for for a personal interview and property assessment with no obligation.