Michelle Maida, Office Leader of the JLS Woodstock office was on KGW’s Portland Today and shared an update on Portland’s spring residential real estate market. For this segment, her approach was “Real Estate by the Numbers” and she went into detail on the following:
- 1.6 months: current amount of inventory on the market
- $435k: average sales price, up $21k from one year ago.
- 4.5 – 5%: as interest rates on 30-year mortgages continue to rise, buyers are hoping to lock in their rate before interest rates go higher.
- 5 – 10: typical number of offers on most properties in the more affordable range of $300 – $600k.
Click here or on image above to watch the story (4:16). Note: there is a short ad before the clip plays.