March 2018 Portland Market Action

13 04 2018

Portland Prices Align With Arizona Weather!

arizona

If you bought a rental house at the average sales price in December 2017 and rented it the next month in January, you would have covered your $1500 mortgage payments for the year and walked away with $6200 to spare for expenses on that rental for the rest of the year.  If you bought it for the median sales price, you broke even for March.  All your expenses paid; even better if your first payment wasn’t until February 1st.

 

hamburger

So, prices are hotter than a ghost pepper and it barely hit 69 degrees once this year!  Last year’s ceiling is this year’s floor.  I said it last month and the month before and it could not be more true today with this news from the RMLS Market Action for March 2018.

 

 

Hot As Hell

Buckle down for the next six- eight months folks—or, wait until the last week of August—my favorite time of the year for buyers to get a steal from a seller who has to sell as the market comes to a halt at the end of the summer.

 

 

Compared to Last Year

  • Inventory up to 1.6 months from 1.3.
  • Closed sales up 31.3%.
  • Pending sales up 23.8%.
  • New listings up 44.2%.
  • Average Sales Price up 4.1%
  • Median Sales Price up 6.8%

 

Compared to Last Month

  • Inventory down to 1.6 months from 1.9.
  • Closed sales up 31 %
  • Pending sales up 23.8%
  • New listings up 44.2%
  • Average Sales Price up 0.9%
  • Median Sales Price up 2.6%

kiss

 

The Full Report:Market Action March 2018

Dustin Miller

Market Analyst

Windermere Realty Trust

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