This is all good news for buyers!
The latest Portland Metro Market report for January 2023 is out and the numbers are wild. Inventory is up to 2.7, the highest we have seen in over 2 years, the median sales price has decreased 4.4% to $489,500 and pending sales are down 23%.
Since interest rates have gone down and are around 6% we have seen more buyers enter the market place or re-start their search. With more buyers back on the hunt we are experiencing multiple offers on well priced homes again. It appears we are going to have a busy Spring in store for us.
Want help navigating this confusing market? Contact us – we are happy to help!