SellPDX.com

Alright Portland. It’s time for a reality check [pardon the pun above]. With all this news of the market falling and prices dropping what’s really happening? To answer that question I’m bringing you a snapshot of the Eastside market in August 2007.

Alright - Looking at the numbers objectively I can tell you everything is going just fine. Here are the numbers and what they mean to you. In NE + SE there were 1165 new homes listed with an average price of $316,000. We sold 477 homes in August and the average time on Market was 49 days [this number is actually going down!] This means the average home is on the market less than 2 months before it gets an offer.

But aren’t prices going down? No. People have gotten into the habit of over pricing their homes and the market would catch up. That doesn’t work in a Balanced Market, our current market status. Homes priced to their market value are generally selling in less than 30 days. In August of 2006 the average sold price was $282,000 - this year it was $323,000. So Eastsiders are getting 14% more for the average home this year over last year.

What does this mean to you? If you’re buying, don’t wait, people are still moving to Portland and prices are still going up. If you’re selling, price your home well and make sure it shows really well and you should be able to make money!

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Welcome to the new Sellpdx.com!  This new site is built on a Blog engine so I can keep you up to date with Portland Real Estate. I’d love your feedback so feel free to look around and try out these great features: Map based home search, Link to the Portland Report, You can chat with me from the site, if you have skype you can call me from your computer, I have buyer and seller resources, copies of press I’ve recieved for my clients, and you can always just pick up the phone or email if you ever need anything. Special thanks to my design team at Eugene Design Pro and Nick Bostic for a great job and wonderful advice!

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Wanted to share this info with y’all. Portland is still strong when compared to the National climate. We’re at ~ 5%! This is very strong. Rates are also edging down with the exception of Sub-prime and Jumbo [over 417k borrowed]. The changes in Jumbo are really hurting San Francisco and other big cities - the median home in SF is 865k Yikes! Check out the latest Portland Report for more local info www.PortlandReport.com

Popularity: 15% [?]

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