January 2021 | Portland & SW Washington Real Estate Market Report

Metro Portland & SW Washington Housing Markets:

The Greater Portland and SW Washington real estate markets are continuing to experience a low supply of available housing to purchase even though new listings increased 48% (PDX) & 55% (SWWA) from last month. Buyer absorption of these new listings is tremendous with Multiple Offers being the norm. The median sales price has risen from $406k to $460k, 13.3%; comparing January 2020 to January 2021 in Greater Portland. For SW Washington, the median has increased from $382k to $425k, 11.3% during the same time periods.

Here is an article about mortgage amounts reaching record highs https://magazine.realtor/daily-news/2021/02/12/average-mortgage-amounts-reach-record-highs.  The last sentence is something that I talk about when asked if we are in a housing bubble… Homes since 2009, are being purchased by highly qualified borrowers with large down payments. The equity in the housing market of the last 11 years is high v. 2000 – 2007, when liar loans were the norm and appraisers had direct working relationships with lenders, i.e. the mortgage broker called up his / her favorite appraiser whenever needed. 

If you have questions about the market?, I am always available to chat… If you are considering selling, it is fantastic time. I provide unparalleled marketing materials and negotiating skills to maximize your proceeds.

If you are a buyer, you can take advantage of the incredible interest rates. However, you need to be ready to compete, and working with an experienced professional is the best way to secure a property in this Seller’s Market. Someone that knows how to compete and win in multiple offer situations and how to avoid them, if at all possible! In multiple offers, price is important but so are the terms and the reputation of your real estate & mortgage brokers. I have learned many tactics that work over the years that do not cost you anything!

Give me a call or send an email and we can talk about Buying and Selling in the current market and the strategies that work!