We value staying in touch with our friends and clients so much that we have developed a newsletter! We promise not to send you apple pie recipes or too many photos of our adorable pets (okay, maybe just one!). We will be sharing relevant information regarding Portland real estate, home ownership and care, and, from time to time, how we give back to our community and special places and events we enjoy during our time off work.
We thought in our first newsletter we would share some information on real estate in Portland for May, 2017. While the data may seem to be an abundance of statistics, we can summarize it for you as follows:
Portland’s Real Estate activity in May continues at a steady pace and the YTD number of closed sales by the end of May for our area totaled 4,878 which is just under what it was in May 2016 at 5,116. The big story continues to be low inventory especially in the more affordable price ranges. But the really good news is that May ushered in a bump in the number of new listings coming onto the market and I expect listing inventory to continue, albeit slowly, to increase at least through July. The only slightly “normal” market segment-that is the price range of homes where demand and supply seem to be more in equilibrium- is in the higher price range with homes priced above $850,000 selling a bit slower than they were in 2016. This is an ideal situation for a homeowner who wants to move up into the higher priced segment of the market.
Here are a couple of notes that will help you make more sense of the below stats:
The best indication of accurate trends is not the data for a specific month but rather the YTD statistics.
As has been the case for many years, the majority of appreciation in our Greater Metro area occurs within the first 6 months of the year. This means that the current rocket hot YTD appreciation figures you will see in the report could drop somewhat as we get closer to December.
Last, but not least, we have individual reports for each of the 5 geographical areas contained in the May 2017 Greater Portland Real Estate Report with each of these areas split out by ZIP code, so please let us know if you would like to receive one of these reports and we will send it right off to you.
We really hope this glance into PDX real estate is helpful to you as you make your lifestyle and investment decisions. We are committed to providing our services to you even after our transaction with you may have closed, and invite you to reach out to us for any information or help we may be able to provide. In other words, please stay in touch!
At the MacNaughton Group, we coined the phrase Concierge Real Estate Services not to be gimmicky but because we were trying to identify what sets us apart. We came up with a very long list and Concierge Real Estate Services sums it up. 30 years’ experience of successful transactions in close-in Portland neighborhoods elevates our customized approach. Recognizing that no two real estate transactions are the same, we place our emphasis on the goals and objectives of our clients. Therefore, our approach begins with listening, really listening, in order to truly understand your particular preferences, needs and wants.