Portland metro activity ended 2014 higher than 2013 numbers in all measures. New listings (37,654) were up 5.0%, pending sales (28,220) were up 4.3%, and closed sales (27,752) were up 3.6% during the entirety of 2014 compared to the same time period in 2013.
Prices were higher in 2014 than in 2013. The average price in 2014 was $333,000, up 7.2% from 2013 when the average was $310,600. In the same comparison, the median also rose 7.7% from $265,000 in 2013 to $285,500 during 2014.
The "experts" all predict 2015 will be a little slower, with price increases around 5%. But the biggest problem we have right now is a lack of inventory. You can see on the attached chart we dont have any homes to sell. So if you have been thinking of selling your home, or know anyone who is, please contact me today at (503) 906-1444 or reply to this email.
Our home of the month is a great mid-century modern home in coveted Hayhurst area of SW Portland. Its a nearly 3,000SF day-ranch on a big 1/3 acre corner lot. There is a big master suite on the lower level, formal living and dining on the main, a big deck, office, two car garage and more. You can view this home HERE.