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February 2023 - Market Action Report - Portland, OR

3/17/2023

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of February 2023.  Click on the image below to see the full detailed report.
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Home inventory* dropped back to only 1.9 months. 

The median sales price is down (-2.3%) over February of  last year now at $512,900. 

February 2023 vs January 2023
New Listings are down 9.0%
Pending Sales are down 3.8%
Closed Sales are up 31.8%


February 2023 vs February 2022
New Listings are down 31.4%
Pending Sales are down 30.5%
Closed Sales are down 26.0%


Homes are taking about 5 weeks longer to sell than they did in February 2022.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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The Hottest Design Trends for 2023

3/15/2023

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In this month’s report, we are sharing with you highlights of some of the hottest home design trends experts are seeing this year. We also offer information on the ways some homeowners are incorporating color and natural materials to create a warm and relaxed luxe environment in their home. 
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Incorporate Color Into Your Home

3/1/2023

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Happy Spring! As we get ready for this new season, you may be thinking about making some changes to your home décor. Adding color can be a simple and impactful way to do that.
 
I have enclosed information on five of the newest colors forecast by paint companies to be the hottest choices in 2023. They include deep, saturated colors borrowed from nature as well as a pretty, creamy white neutral. Additionally, Pantone has chosen a bold color from the crimson red family, Viva Magenta, as their choice for 2023. While that may not be something you decide to choose for a major project, it may be fun to use splashes of this vibrant color in accent pieces. 
 
Choosing a new color can be a bit overwhelming, so we have provided some great hacks you can use to try out different choices. It’s an inexpensive way to let you try out as many options as you like. 
 
Don’t hesitate to call us with your questions on the current state of the real estate market! We're honored to share more market updates and serve all of your buying and selling needs. Please feel free to reach out to us any time!
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Real Estate Trends in 2023

2/15/2023

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The real estate market has changed so much over the past two years and continues to do so! This month we're sharing details on some of the interesting trends we are seeing for 2023. If you have any questions on these or any other real estate-related concerns, please feel free to reach out to us. We’ll be happy to help you out!
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January 2023 - Market Action Report - Portland, OR

2/15/2023

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of January 2023.  Click on the image below to see the full detailed report.
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Home inventory* has increased to 2.7 months. 

The median sales price is down (-4.4%) over January of  last year now at $489,500. 

January 2023 vs December 2022
New Listings are up 80.6%
Pending Sales are up 46.8%
Closed Sales are down 25.7%


January 2023 vs January 2022
New Listings are down 16.0%
Pending Sales are down 22.6%
Closed Sales are down 41.3%


Homes are taking nearly 4 weeks longer to sell than they did in January 2022.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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Accessory Dwelling Units: Housing and Rental Options

2/1/2023

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Most likely you have heard the terms “granny flat” and “in-law apartment”. These are examples of Accessory Dwelling Units (ADUs). These small units, either attached to your home or as a freestanding unit on your property, are great options for families who wish to have a member, such as an elderly parent, live close by. ADUs are also more affordable options for family members who are not yet in the position to own their own home.  
 
ADUs have a kitchen, bedroom, bathroom and living area which makes them ideal as rentals. However, because they share utilities with the main home some simply use them as office space, a personal gym or a guest house.  
 
Although the cost of an ADU can range anywhere from a few thousand dollars to much more, they can add to your home’s overall value, sometimes as much as 35%.  
 
Different municipalities have their own specific regulations regarding ADUs. If you are interested in learning more, please let us know and we will help you get started in that process. We are here to answer any other questions you may have about real estate and help you through every step of your transactions. Please feel free to reach out to us any time!
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Common Real Estate Terms

1/15/2023

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This month I am sharing a list of some of the more common terms you may hear regarding real estate transactions. If you have any questions on these or any other real estate-related concerns, please feel free to reach out to me. I’ll be happy to help you out

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December 2022 - Market Action Report - Portland, OR

1/11/2023

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of December 2022.  Click on the image below to see the full detailed report.
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Home inventory* dipped back down to 2.3 months. 

The median sales price is down a bit (-0.7%) over December of last year now at $507,500. 

December 2022 vs November 2022
New Listings are down 35.6%
Pending Sales are down 19.5%
Closed Sales are down 9.7%


December 2022 vs December 2021
New Listings are down 32.9%
Pending Sales are down 37.9%
Closed Sales are down 43.3%


Homes are taking roughly 3 weeks longer to sell than they did in December of 2021.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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Looking Ahead to the 2023 Real Estate Market

1/1/2023

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As we start a new year, the real estate market is once again shifting. After a historic run, with home sales and prices reaching record highs, they are leveling. Mortgage interest rates continue to be affected by Federal Reserve decisions to address inflation.
 
This month we are sharing with you some well-researched statistics on how the real estate market reacted in the last half of 2022 as well as projections for 2023. Inventory is still low, but buyers now have a few more days to make their decision and may be able to ask for seller concessions. Sellers who price their homes right will be well positioned in the market. It’s also important to remember – there will always be buyers and always be sellers – no matter the market! 
 
We are also sharing with you a couple websites where you can find additional easy-to-understand information on mortgage and real estate statistics.
 
We are here to answer any questions you may have about real estate and help you through every step of your future home sale or purchase. Please feel free to reach out to us any time!
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Fun Winter Crafts for Kids

12/15/2022

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This month we're sharing some fun ideas for kids’ winter crafts projects. They are great ways for the little ones to use their imaginations and create items that can be displayed or given as gifts. Pass these ideas onto your family and friends who have kids, too. They will appreciate it! 
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  • Home
  • About Us
    • Mission Statement
    • Rick McDowell
    • Jimmy McDowell
    • Becky Shaw
    • Client Testimonials
  • Sellers
    • What's My Home Worth?
    • Selling a Home in an Estate
  • Buyers
    • Preferred Lenders
  • Our Listings
    • LISTING - 146th Ter
  • Home Search
  • Resources
    • Preferred Lenders
    • Business Directory
    • Client Survey
    • March Madness 2023
  • Blog
  • Contact Us