Real Estate Market Report
May by the Numbers
- Portland Area Months of Inventory: 2.3
- Portland Area Avg. Sales Price: $465,600
- YTD Average Sales Price increased: 2.8%
- Portland Area Closings increased: 33.9%
- Portland Area New listings increased: 20.1%
- Average market time: 38 days
The flight to the suburbs is real and growing, as coronavirus changes the way people live
If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out.
The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers.
As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas.
Click the link below for more detailed information:
Source: cnbc.com
Rental Market Report
Rental News
Tenants and union leaders meet virtually to discuss rent payback solutions
If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out.
The stay-at-home orders brought on by coronavirus have more potential homebuyers looking for properties in the suburbs. Millennials are now the largest cohort of buyers.
As the real estate market began to recover in May, home searches in suburban zip codes jumped 13%, according to realtor.com, one of the largest real estate listing websites. That doubled the pace of growth in urban areas.
Click the link below for more detailed information:
Source: kptv.com
Thinking of Buying or Selling in 2020? Let us help!
June Homework
Check Decks and Railings
It is time to re-energize your sprinkler system for the summer. Walk around the yard and inspect the sprinkler heads to make sure everything looks ok and nothing was damaged through the winter. Check to make sure the drain valves are all closed. Check the battery in the control unit and also the time setting to make sure the time is accurate. Turn the system on and run a manual test to make sure everything is functioning properly and the water is going in the right direction. Avoid letting the sprinklers water the house or other areas that you do not want wet. Most all sprinklers systems have a backflow device to protect the water source from contamination, call a testing company and have your backflow valve tested to make sure it is functioning properly. If you need help or have a question feel free to give me a call!
Getting Involved with our Community
The mission of DONATION HOUSE is to create revenue and support for non-profit organizations that serve our communities and make a positive impact on people around the world. When a non-profit organization refers real estate business to a DONATION HOUSE business partner, they agree to return 10% of the proceeds back to the non-profit organization.
Recent contributions have been made to the following:
