April 2023 Market Update

Welcome to the Portland Real Estate Podcast, where we discuss the latest news and trends in the Portland real estate market. In today's episode, we cover a range of topics including the latest price trends, affordability, and inventory levels in the market. We also break down the market by price segments, highlighting the importance of understanding what's happening in your price range. With the market still super competitive in the under $750k price point, buyers need to be prepared to act quickly. We offer some tips on how to stand out in a highly competitive market. Additionally, we offer advice for both buyers and sellers, including keeping an eye on rates, having a strong pre-approval, and being open to negotiating.

Highlights:

1.      Top News: Prices Vary by Price Point: Prices are dropping locally with a 4.5% decrease year over year, but it varies by price point. While the overall Portland real estate market is experiencing a slight dip in prices, the market still varies significantly by price point.

2.      Affordability is Improving: For buyers looking to purchase a home, there is some good news. The recent dip in home prices and decreasing rates have led to an increase in affordability for many buyers.

3.     Inventory is Competitive: The market is still super competitive in the under $750k price point, so buyers need to be prepared to act quickly. Makayla shares some tips on how buyers can stand out in a highly competitive market.

4.      Portland Metro Market Report: Breaking Down Price Segments. Different price segments have different markets, so it's essential to know what's happening in your price range. Joe and Makayla break down the market by price segments in the Portland real estate market.

($400k to $600k, $700k to $1M, $1M to $1.5M, and $1.5M to $2M).

5.    What Buyers and Sellers Should Do: Joe and Makayla offer advice for both buyers and sellers, including keeping an eye on rates, having a strong pre-approval, and being open to negotiating. These tips will help buyers and sellers navigate the current market with confidence.

Whether you're a first-time buyer or an experienced seller, our podcast has something for everyone. Tune in to learn about the Portland real estate market and how to navigate it with confidence. 

 Links

www.livportland.com/off-the-record/april2023marketupdate

www.livportland.com

www.vantagemortgagegroup.com/getrates  

Thank you for listening to this episode of our April 2023 Portland Metro Real Estate Market podcast. Stay up to date on the latest trends and insights by subscribing to our podcast and following us on social media.

For more information about buying or selling in the Portland real estate market, please visit our website or contact us directly.

We appreciate your feedback, so please leave a review and let us know what topics you would like to hear more about.

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