Sizzling Market, It's True!

Real Estate has been so busy “out there” that I’ve been neglect in reporting what is happening in my own backyard! You may have heard in the media, and this snapshot of recent pending and sold condos in the South Waterfront tells the story as well…our market is on fire. Just look at these average days on market. These statistics show a select group of pending and sold listings in the last 4 months. The building receiving the quickest sales contracts after hitting the market is The John Ross, units under the $300,000 price point. Although a general rule, properties receiving offers within days of listing usually sell close to, at, or-in the case of multiple offers-over asking price.

Ardea, Riva, Matisse or other renters out there-if you would rather own a condo rather than rent and would like to be notified in a flash when a new listing comes on the market, just let me know and I can put you on instant watch. In an economic forecast I attended yesterday, the presenter indicated that Portland will be at peak prices again y 2015. It’s a great time to buy with low interest rates and before prices rise.