Real Estate Market Review – March 2014
Despite what information may be circulating in the national news, the housing market in our region is strong. With about 2 months of inventory in Portland our greatest challenge at this point in time for buyers is finding homes for them.
The tables and graphs below will give you a snapshot of our region, state and cities performance in the market.
Pacific Region shows highest house price appreciation in the United States.
Oregon 4th in the nation in house price appreciation for year ending December 2013.
By The Numbers…
Portland for February 2014
(Analysis of homes listed at $150,000 or more in the Portland city limits)
* 13.7% more sales of homes in February of 2014 than 2013
* The average sales price in Portland was $368,000 with homes retaining 98% of their value from the listing to the sales price.
* The median sales price (that in which half are above and half are below) was $305,000 for last month.
* The average numbers of days on the market was 55 for all homes (detached, condo and townhouse).
Vancouver for February 2014
(Analysis of homes listed at $150,000 or more in the Vancouver area)
* 33.3% more sales of homes in February of 2014 than 2013
The average sales price in Vancouver was $273,000 with homes retaining 98% of their value from the listing to the sales price.
The median sales price (that in which half are above and half are below) was $235,000 for last month.
The average numbers of days on the market was 69 for all homes (detached, condo and townhouse).
(Freddie Mac’s weekly primary mortgage survey – week ending 3/6/2014)
4.28% 30-Year Fixed
3.32% 15-Year Fixed
3.03% 5/1-Year ARM
2.52% 1-Year ARM
We hope you find this information about your local housing market useful. If you are interested in a Real Estate Review and price opinion on your property, please contact us.
Roger Gantz and Sean Coster
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