Real Estate Market Report
April by the Numbers
- Portland Area Months of Inventory: 2.4
- Portland Area Avg. Sales Price: $465,200
- YTD Average Sales Price increased: 4.3%
- Portland Area Closings increased: 14.5%
- Portland Area New listings increased: 17.9%
- Average market time: 44 days
Portland-area home prices inch up during the coronavirus-caused economic crisis
While most work activities were halted in April to reduce the spread of the coronavirus, people continued to buy and sell real estate.
In the Portland metro, prices are up compared to this time last year and the average number of days spent on the market before an offer was accepted have shrunk due to low inventory, according to the local listing service RMLS.
Sellers at almost all levels continue to profit from the low number of residential properties for sale in Oregon, the state with the largest housing shortage in the nation.
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Source: oregonlive.com
Rental Market Report
Rental News
Oregon Landlords feared the worst for May residential rent – but so far, so good
Once again, Oregon has distinguished itself from the rest of the country when it comes to paying rent in a pandemic.
Last month, Oregon residential renters came the closest of any state to making monthly payments at their pre-pandemic pace, according to data from RealPage, a large property management software company. Eighty-two percent of Oregon units made a rent payment within the first week of April, down 7 percentage points from the year before. (The company doesn’t track whether this was a full or partial payment.) No other state had a smaller decline.
This month, Oregon’s on-time rent payments increased to 89%, according to RealPage’s latest dataset. Only West Virginia had a higher rate. (The results omit figures for Alaska, Hawaii, Maine, Montana and Wyoming due to lack of data)
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Source: opb.org
Thinking of Buying or Selling in 2020? Let us help!
May Homework
You should find exhaust fans in your bathrooms, maybe laundry room, and the kitchen. It is a good idea to check all the fans and make sure they are clean and operating as designed. They are designed to remove moisture from the house which helps to reduce the growth of mold and mildew. Often times fans in the bathrooms get clogged with dust and lint. When hairspray is used in the bathroom, it can cause dust and lint to stick to the fan and make it work less efficiently. Keeping the exhaust fans clean and operational will help maintain the health of your home. In the kitchen, check the range hood or microwave hood above the stove or cook top. If you have an island, there may be a downdraft fan that has filters that will need to be cleaned. Remove the filters and clean as necessary. Keeping these clean will help the ventilation in the kitchen, reduce the risk of fire, and make cooking a pleasure. If you have no idea what I am talking about please give me a call, I can help!
Check Decks and Railings
You should find exhaust fans in your bathrooms, maybe laundry room, and the kitchen. It is a good idea to check all the fans and make sure they are clean and operating as designed. They are designed to remove moisture from the house which helps to reduce the growth of mold and mildew. Often times fans in the bathrooms get clogged with dust and lint. When hairspray is used in the bathroom, it can cause dust and lint to stick to the fan and make it work less efficiently. Keeping the exhaust fans clean and operational will help maintain the health of your home. In the kitchen, check the range hood or microwave hood above the stove or cook top. If you have an
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:
