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  OREGON HOME PRICES   Oregon home listings increase dramatically  


Story by Janet Eastman | The Oregonian/OregonLive - Story Source
Published on Thursday March 18, 2021 - 12:50 AM
 
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March typically launches the prime-time real estate market, which spans about eight months. What's ahead? The average price for a Portland area home rose to $542,000, according to the latest housing report, which benefits sellers and keeps pressure on buyers to act fast, make concessions and select from a small amount of homes for sale.

"The biggest story continues to be the lack of inventory, which has been historically low for nine months," says Suzanne Page, a broker with John L. Scott Southwest Portland.

Since June 2020, the supply of homes to sell has lingered around one month, which means if sales continue at the same pace, it would take just one month to zero out all the available residential properties on the market.

A market is considered balanced between buyers and sellers when there is four to six months of inventory.