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For Sale: $549,900

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Portland Real Estate Update By Rob Levy

Portland Real Estate Update Jan '17

Average and Median Sale Prices: Comparing 2016 to 2015 through December, the average sale price rose 11.4% from $354,500 to $395,000. In the same comparison, the median sale price rose 12.7% from $308,000 to $347,000.

The Portland metro area ended the year with cooler activity on the whole. Closed sales (2,621) ended 3.3% under the 2,710 closings posted last year in December 2015 despite a 7.7% increase compared to the  2,434 closings recorded last month in November 2016.    New listings, at 1,421, fell 7.6%  short of the 1,538 new listings offered last year in December 2015 and 31.7% under the 2,080 new listings offered last month in November 2016.  Pending sales (1,757) decreased 9.2% from December 2015, when 1,936 offers were accepted; and 22.5% from November 2016, when 2,266 offers were accepted.  Inventory decreased slightly in December, landing at 1.3 months.  During the same time, total market time increased by four days, ending at 49 days. There were 3,511 active residential listings in the region in December.

Year to Date Summary: Activity was cooler in 2016 than in 2015. Comparing all of 2016 to 2015, new listings (41,121) increased 0.7. Closed sales (32,798) decreased 1.5% and pending sales (33,234) decreased 3.9%.  

Our home of the month is a complete redo on a close in SE Portland home.  This place is stunning!  3 bedrooms, 2 full baths, new floors, paint in and out, complete new kitchen with granite counters, new cabinets, backsplash, lighting.  All new bathrooms, a fully finished basement and an upper level.  Check it out at http://www.roblevy.com/property/3228-SE-24th-Ave-Portland-Oregon

Download Our APP To See Inside Any Home Around You

At the Rob Levy team we are proud of our new iPhone and Android APP, and have had many clients download and use the APP.  Surveys show people love the fact they can pull up in front of any house and it shows most of the MLS stats on any house around them.  On the app you can also search homes and save the search, as well as contact us directly.

You can download the iPhone version here.... CLICK HERE

You can download the Android version here....  CLICK HERE

Note, read this newsletter on your phone to download directly onto your phone.  The address is www.roblevy.com/newsletter

USA Today: Lack of young homebuyers fuels generational wealth gap

It’s a tale that has been told over and over — Millennials just aren’t buying homes and instead are sticking to renting.The absence of Millennial homebuyers is a big story for the economy, because housing sales and construction are big drivers of jobs. But it’s also an equally big story for the personal finances of Millennials, who are missing out on the real estate wealth that bolstered the balance sheets of previous generations.“The most impactful contributor to consumer wealth since the great financial crisis has been growth in home equity,” said Brad Friedlander, managing partner at Angel Oak Capital Advisors. “Similarly, there has been a growing wealth gap between homeowners and renters, largely due to home equity.”  You can view the entire article on the USA today site here and there are some great charts showing home ownership rates, costs assoiciated with