Posted on December 13, 2013
RMLS Market Action for November was released yesterday and we have our new infographic ready! The Portland real estate market has slowed some but we expect that with the holidays. We typically expect to see fewer buyers and sellers in the market at this time of year but they are usually more motivated- it’s not a lot of fun looking at homes in the rain and cold.
It’s been quite a year. Year over year, the average sales price is up 13.5% to $310,800. We can’t do that forever but it gets us a lot closer to getting back on the 4% track we have seen historically over the last 40 years. The market went way over the trend line pre-bubble and way under it a the post-bubble bottom. Like all markets we’ll have our ups and downs and we got a painful reminder that real estate is a long term investment (there are exceptions).