Blog Stories WTM? What’s the Market, Portland?

WTM? What’s the Market, Portland?

By Bonnie Roseman, November 26, 2018

People often ask if they should wait till spring. My answer is, maybe. Homes sell every day of the year, so it is OK to go with the schedule that works best for you. Winter offers a more manageable pace with less frenzy. Spring is typically the busiest time of the year, with the highest prices and the most competition. As summer goes along things often settle down and price reductions crop up. Fall is generally pretty steady and then the cycle begins again, with prices and activity beginning to increase a week or so into the new year.

There are a myriad of variables that will impact your decision about when to list or look. Your next step may determine when is is the best time to maximize your financial position in the market.

Selling

If you are selling a property and not replacing it, consider the costs of waiting vs. a possible increase in the value if you wait. If the house is vacant it probably make sense to go for it right away, but if the carrying costs are covered it may make sense to wait for things to heat up. If you are planning on buying a more expensive home, winter can be great because you will save more on the new home than the possible missed increase on the home you are selling. If you are buying a less expensive home it may make sense to wait to maximize the sales price since that difference will be greater than it will be on the lower price tag property.

Buying

If you are buying and don’t need to sell a home first, winter can be a fantastic opportunity to get a good deal and have time to think about your decisions, though there may be fewer homes to choose from. Spring will typically bring more selections, but also more competitors and increasing prices. If your focus is buying, starting the search sooner than later is a good idea. The unknown changes of future home values and interest rates can have a big impact on your buying power. Although the market bumps up and down, prices generally trend up.

Today’s Stats

 

Click here to view a report on the most current market information for Portland, Or.

Portland Market Stats

Things have softened and inventory has increased, but it is still a bit a of a seller’s market here in PDX.

 

Bonnie Roseman

Principal Broker, Earth Advantage + ADU Specialist

Bonnie hit the real estate scene in Portland when Silence of the Lambs was killing it in the theaters, the Cold War was officially chilled and the national median sales price of a home was $120,000. Since then, she's been delighted to assist clients in navigating the ever changing housing market: whether selling a first home or the family home, looking for a starter pad or a forever habitat, downsizing, resizing or buying and selling investment property. Having a symbiotic connection with your real estate agent is key and will help ensure a great experience. Bonnie enjoys consulting with potential clients to discover their wishes and goals, confirming the right client-agent match. Smooth transactions are the target; however, there can be unexpected bumps getting to the closing table. Bonnie excels at finding creative solutions to any mishegoss that pops up and she takes pride in an extremely low sale fail rate. A little more about Bonnie: born in Philly, raised in Berkeley, mom to an incredible young woman; her home is filled with both furry and scaly creatures, the daily driver is all electric, equality is the only pathway; she's embraced veganism for the earth, the animals and her health. Like credentials? Sweet, here you go:
  • At Home with Diversity Certificate
  • Earth Advantage Broker + ADU Specialist
  • Senior Real Estate Specialist SRES)
  • Certified Residential Specialist (CRS)
  • Five Star Professional Award (7 years)
  • Member of the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP)
Saving the best for last, Bender, her little second chance rescue pup from SoCal is likely to tag along. He’s snuggly, pretty cute and has jumped paws first into the real estate industry.
Read More
  • T: 503-515-5973
  • bonnie@livingroomre.com

Bonnie Roseman

Principal Broker, Earth Advantage + ADU Specialist


You might also enjoy

Turning a No-Cause Eviction Lemon Into Homeownership Lemonade

Alyssa Isenstein Krueger

When my buyers Kelley and Satomi first contacted me in early November the panic in their...

NICE AND SLOW WITH ROOM TO GROW

Jason Wasinger

Expecting their fourth boy. J&B were feeling the constraints of their first home. They had found...

The C-Word (in Real Estate)

Bobby Curtis

The C-word is showing up in more real estate conversations lately. Well actually a few c-words:...

Shop Talk, Vol. 9: Do You Know If Your Chimney is Santa-Safe?

Aryne + Dulcinea

Christmas is no small operation – it takes the Guy in Red an entire year to orchestrate....