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Bank Owned Real Estate Deal Of The Day: |
All homes were built after year 2000 and have at least 1200 sq feet.
Contact me today to purchase one of these homes.
If you would like to see all the bank owned homes in a certain area just let me know we'd be happy to set that up for you. It's FREE.
As many of you know Pohl Real Estate agent, Geoffrey Pohl, was on an episode of the Number #1 Home & Garden Television (HGTV) Show, House Hunters, January 2nd. As many have requested we'll post the video when we get it. Thanks for all your positive feedback. Here is a link to the summary of the episode. |
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Latest Market Conditions:
Ending December, 2012 |
The Portland Real Estate market continues to flourish. Total Portland inventory hits the lowest point in the year at 3.6 months. The last time the inventory was this low was in August of 2006 and the last time the inventory was lower in the month of December was December 2005, 7 years ago. When comparing December 2011 to December 2012, new listings are down -24.4%, pending sales are down -4.1%, closed sales are up 9.1%, the average sales price increased 11.3%, the median sales price increased 14.5% and the total time on market declined by -21.4%.
Here are the basic stats for year 2012 (Jan-Dec), which includes the entire Portland Metropolitan Area:
Average Sales Price = $275,000
Median Sales Price = $235,000
Average Time to Get an Accepted Offer on Your Listing = 112 days
Total New Listings = 32,300
Total Accepted Offers = 24,010
Total Closed Sales =23,438
Total Current Active Inventory Ended at = 6352 homes or 3.6 months
Total Volume of Sales = 6.45 billion
What to expect in 2013 ... Click here to read the rest of the market conditions recap and to go to the archive of market conditions. |
2012 THE YEAR IN REVIEW
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In reviewing the 2012 Portland, Oregon real estate year it's important to remember three important factors that weighed heavily on Portland's real estate climate.
1. Interest Rates
The home borrowing interest rates stayed at all time lows around 3.5% throughout most of the year. This lead to consumers being able to purchase up while keeping there payment the same or in some cases purchasing a more expensive home actually lowered their overall payment.
These low interest rates also attracted millions of refinances of heafty debt freeing cash strapped families from some monthly payment burden giving consumers more confidence. Consumer confidence leads to more purchasing.
Investors certainly benefited from these low interest rates. The problem for many investors is that ...
Click here to read the rest of this article and to head to our real estate news section archived section. |
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