Portland Real Estate Market Update - January, 2024 - A Recap of the 2023 Market, Where We Are Heading and More!

In this video, I discuss the current state of the residential real estate market in Portland, Oregon as of January 2024. I provide insights into the market trends, including interest rates, median sale prices, and activity levels. Despite the increase in interest rates, the market has maintained its stability, with prices even showing a 3.4% increase compared to the previous year. I also touch upon the forecasted mortgage rates for the year and how they might impact the market. Watch the video to gain a comprehensive understanding of the real estate landscape in Portland.

00:00 Introduction

00:33 Interesting findings

01:42 December numbers and comparison

03:28 Activity and price stability

05:35 Closed sales by month and year

07:08 Inventory and market balance

08:06 Mortgage rate forecast

Andy Harris
Founder/Broker
Foris Real Estate
Licensed in Oregon & Washington
503-504-2369
andy@forisre.com