As the year just starts ramping up, we are looking ahead. What is 2018 going to look like for home buyers/sellers in Portland, OR?
Some are saying the market is finally slowing because the winter of 2017 was slower than the winter of 2016, but is that true? We think the answer is yes and no. Yes, the price increases are slowing, but they haven't stopped and we predict 6% average selling price increases in 2018 VS 8.2% in 2017. Is that stopping buyers? No, we are still seeing multiple offers that are over asking price and this January was busier than any January in SellPDX history, for buyers and sellers.
It is still a seller's market as inventory is still very low and buyers know that if they don't act quickly they may miss out. With prices still increasing, now is the time.
2017 Portland Metro Stats
Nick Krautter is the author of The Golden Handoff: How to Buy and Sell a Real Estate Agent’s Business which debuted number one on Amazon for mergers and acquisitions. His goal is to teach real estate agents how to grow their business and to help them later retire and benefit from their years of hard work. For the last decade Nick has been a Realtor in Portland, Oregon, where he leads a team and frequently serves as a real estate expert for the media.