You know those bumper stickers, Keep Portland Weird? Well the real estate market is helping to achieve that mission.The Portland real estate market is just plain weird.
Anecdotaly, my office and several others close in have been very hectic. Many of our buyer clients have written offers ending up in multiple offer situations, losing out. We’ve seen this both in the lower, first time buyer/investor price range, ($200,000- $300,000) and in the higher move-up range of $500,000 and up.
Then, out comes the RMLS monthly report with the Portland market stats, which give few if any hints to the market we have been experiencing. The ony sign of an improving market is that the average sales price came up slightly from March 2011 to April 2011 from $261,100 to $267,300. The median price also came up from $215,000 to $219,400.
But…both the number of both pending and closed sales are down, and the number of active listings on the market have increased a tad.
We know the housing recovery will be long and slow, but …
Click here too see the full Portland market report.