Owned and operated by Patrick Krause
Metro Market Report for March 2014
Pending Sales: 2,534 (up 37.1%% from February 2014)
Closed Sales: 1,857 (up 26.6% compared to February 2014)
New Listings: 3,090 (a 31.3% increase over the 2,354 new listings posted the previous month…and a 2.9% increase over March of 2013! Whew…we needed that!)
Ave Sales Price: $328,100 (up from $299,000 compared to March 2013)
Total Market Time: 85 days (down from 100 in February 2014)
Inventory (months): 3.1 (down from 3.9 in February 2014)
The first quarter of 2014 is in the books and things are moving along quite nicely. Double digit gains are becoming common across nearly every metric. One interesting stat to notice is that there was a 31.3% increase in listings from February to March yet inventory decreased in that same span of time. That is a pretty compelling indication of how strong and – dare I say hot – this market has become.
As I mentioned last month, interest rates are not only staying at historically low levels but new loan products are starting to become available that will help more people qualify – especially in the jumbo space.
Contact me today to find out what your home is worth in the current Portland Metro real estate market and/or to find your next home! Also, be sure to check out the “Search By City” section of Metro Market News. I’ve added videos and a Featured Properties section for each city that updates new market activity for each area in real time.
Owner, Principal Broker
Soldera Properties, Inc.
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