real estate market update video Archives

Portland Market Update Mid-April 2024

Posted on April 18, 2024April 17, 2024 by Jacob Weigel

Find out what’s happening in the Portland real estate market for Mid-April 2024.

Hi I’m Jacob Weigel with Living Room Realty. I’m here to tell you what you need to know about the market for Mid April 2024.

Let’s Dive Into The Data

Anyone who’s familiar with the 12 seasons of Oregon (or allergies) knows that we are currently in the Pollening. And with all the itchy eyes & blooming flowers and trees comes the spring market, which is heating up – but there is a tale of two listings within this data. Pending sales are up 2.8% month over month, but this doesn’t tell the full story.

Let me tell you about what I refer to as “depressed inventory.” New listings are up 16.3%, new pendings are up 22.7%, and closed sales are up 22.9%. HOWEVER, total market time went up? Are days on market and a rise in pending transactions mutually exclusive data points? Nope – they are not.

Listings within living room realty are currently seeing an average of 3.5-4.5 offers per week, and averaging $20-$30 thousand over asking.

Stand Out & Show Value

While more inventory is coming on the market, a ton of listings that have been sitting for many weeks. This market is a price war and a beauty contest. If you are an active seller in this market, you need to make sure your asset looks good and shows VALUE.

Last week the fed signaled that our current interest rate market is here to stay longer than investors previously thought. While the buying demand continues to stay strong, buyers are less and less willing to take on repairs without seller concessions. If you are a home seller – listing prep is EVERYTHING.

Get Your Home Ready

Reach out to a professional like myself to consult around what the highest value adds are that can be done prior to going on the market. It’s never too early to be thinking about this. I have many clients who have consulted with me on design elements for up to one year prior to their desired launch date to market

Any of these additions to your property should be giving you greater than a dollar for dollar return. This is exactly what a good agent can help build a plan around.

Make A Move

Living Room Realty is committed to connecting you with as much information to help you make an informed decision. If you’re ready to make a move, give us a call today. We’d love to help you find your next Living Room.

Portland Market Update Late-February 2024

Posted on February 23, 2024 by Bonnie Roseman

Find out what’s happening in the Portland real estate market for Late-February 2024.

Hi, I’m Trish Sunderland, licensed broker in Oregon at Living Room Realty, here to tell you what you need to know about the Market for late February, 2024.

Hang In There

Right now in Portland we are seeing two different Markets existing simultaneously.

The first being older listings that have been sitting since last year, having price drops and languishing for a variety of reasons. We’re seeing this truth in the average days on market, which is currently registering at 118 days. This is the highest it’s been since this time in 2020.

Historically, February sees the longest days on Market as we transition from the lull of the holidays to the seasonal flurry of activity in the Springtime.

If you’re one of these sellers with a lengthy time on market, don’t lose hope. Hang in with me til the end where I’ll give you a few game changing tips to help refresh that listing to get it sold.

Buyer Tips

Buyers, let’s talk. The lengthy time on market doesn’t paint the whole picture here. Don’t get left behind thinking you have days or weeks to think about a property you may be interested in.
When we look at homes that have had an offer accepted since January 1, the number of days on market drops significantly to from 118 to 9 – NINE!

Which brings me to the second market we’re seeing. Get ready, don’t blink. That’s the advice for all you buyers out there, eager to snatch up that well manicured, instagram-able, no-repairs-needed home. The hot ones simply are not waiting around.

Sellers are looking for serious buyers they feel confident will get them to the finish line. When they see an offer come through conveying just that, you’re not always guaranteed a window to submit an offer. It’s like one of my favorite versatile sayings, “see something, say something.”

Did you just walk through an open house and feel you’re falling in love? Did you do a drive-by of a new listing that feels perfect? Tell your agent, get in there, write your offer. If you don’t, someone else certainly will.

Seller Tips

Alright, sellers, what does all of this mean for you? It means that if you want to get in on the best time of year to sell, i.e. the highest chance of multiple offers, highest bids, best terms, now is the time to be prepping your home to sell.

The peak of the Spring market will be here before we know it and often fades out by Summer. Portlanders looooove the sun and that’s when we historically see the selling season slow.

Last thing, I promised you tips to refresh your listing and get it sold. A few that have worked very well for my team.. A small change like new photos, fresh paint on the front door or adding a floor plan, can be simple, cost effective ways to catch the eyes of your home’s next owner!

Make A Move

A Real Estate Market Update in Less than 90 Seconds

Posted on February 18, 2024 by Lily Ray Wyss

What we discuss:

The Spring Real Estate Market already coming to town.

How home buyers can be set up for success in a hot market.

And what opportunities this new market will have for home sellers.

Want to co create your winning home buying and or home selling strategy together? Let’s chat. Reach out at the contact information below.