Newsletter Vol. 32 Issue 5, Sept 2017

This month the Oregonian reported that once again Portland and Seattle remain two of the hottest real estate markets in the entire country. Of note is the fact that in SE Portland we have experienced some subtle changes to the close-in eastside market. Current inventory has gone from .7 months of inventory to approximately 2.8 months of inventory. While the current inventory has been historically low for months, this increase is substantial. We believe many homeowners are convinced that presently their home is worth more than ever and are taking advantage of the last five years of double digit appreciation. With no end in sight to appreciating values buyers are still competing over a slim supply of homes.It was approximately six months ago that the feds decided to raise interest rates. We speculated that an increase in interest rates could slow the market down. This did not happen. Interest rates have only slightly increased and have actually gone down in the last month to the lowest level this year. David Blitzer, chairman of the committee that publishes the Case-Shiller index, suggested that rising rates could have the opposite effect. “If mortgage rates, currently near 4% per cent, rise further, this could deter more people from selling and keep pressure on inventories and prices,” Blitzer said in a statement. “While prices cannot rise indefinitely, there is no way to tell when rising prices and mortgage rates will force a slowdown in housing.” With this perspective, we have experienced a subtle change to the SE real estate market in the last 30 days. Inventory is trending up and buyers seem more interested in enjoying our fantastic summer weather than fighting over homes. Market time has increased in our office from approximately 10-20 days to 25-35 days. The market over $600,000 has slightly cooled off with less bidding wars. We are observing more homes with “price reduced” as sellers need to be more competitive with their initial asking price. All in all, we believe now is a great time to be a seller. Sellers and buyers need to be a bit more patient and trust the process. Having an experienced, knowledgeable real estate agent is more important than ever.

Community Events

Free Pumpkins!

October 28th 9am-12pm
5015 SE Hawthorne Blvd.

We are big fans of fall here at the Caplener Group and we’d like to celebrate the season by giving away free pumpkins to our friends and neighbors. Stop by our office for yours!

Artist Reception

October 26th, 5pm – 8pm
5015 SE Hawthorne Blvd.

Please join us for an artist reception celebrating the work of Mila Rudolph, whose love affair with Portland and Oregon has served as an inspiration for many of her watercolor paintings. Come by our office to meet the artist, view/purchase her work and nosh on refreshments courtesy of the Caplener Group.

17th Annual Pretty Kitty Handmade Holiday Craft Bazaar

November 11th 10 am – 4 pm
http://www.kittydreams.org

House of Dreams No-kill Cat Shelter’s bazaar features handcrafted gifts for people and pets, many using recycled content. There is a silent auction, raffle, Second Time Around gently-used holiday décor, home and garden items, photo booth, treats and baked goods – vegan too! All proceeds go directly to the care of the cats at House of Dreams. Family-friendly, free admission. Taborspace,5441 SE Belmont St.Home Mortgage

Recently Sold Properties

 

43 SE 78th AVE.

2

1

1016

$209,000

1916 SE 58TH AVE.

2

2

1008

$500,000

4720 SE 52nd AVE.

2

1

1256

$235,000

2218 SE 44TH AVE.

4

2

1433

$518,000

3315 SE 55th AVE .

3

1

960

$300,000

2912 SE 75TH AVE.

3

2

2008

$527,000

4334 SE 74th AVE.

2

1

838

$318,000

2640 SE GRANT ST.

2

1

1551

$530,000

516 SE 34th AVE.

2

1.1

2197

$325,000

2214 SE 34TH AVE.

2

1

2113

$549,000

6544 SE 68th AVE.

4

2

1232

$342,000

3524 SE MADISON ST.

3

3

2092

$550,000

3330 SE 65th AVE.

2

1

1328

$360,000

1916 SE 51ST AVE.

3

1.1

3005

$580,000

3012 SE 8th AVE.

4

2

2733

$375,000

3439 SE DIVISION ST.

4

2

2179

$585,000

3320 SE 29th AVE.

2

2

1154

$385,000

2602 SE 31ST AVE.

3

1

2524

$595,000

3523 SE 69th AVE.

3

3

2303

$390,000

504 SE 70TH AVE.

3

3.1

2114

$600,000

3536 SE 61st AVE.

3

2

1450

$405,000

4430 SE CLINTON ST.

3

2

1984

$615,000

3417 SE 66th AVE.

3

1.1

1088

$410,000

4001 SE LINCOLN ST.

4

2

3302

$644,000

2620 SE 61st AVE.

2

1

1210

$424,000

2135 SE 58TH AVE.

3

2

3303

$650,000

3411 SE 66th AVE.

2

1

1512

$429,000

1215 SE 47TH AVE.

3

3

2486

$659,000

3004 SE 65th AVE.

3

2

1986

$430,000

1126 SE 52ND AVE.

5

2.1

2882

$720,000

710 SE 61st AVE.

2

1

1328

$445,700

2605 SE 25TH AVE.

3

2

2454

$755,000

45 SE 72nd AVE.

3

2

2767

$450,000

914 SE 28TH AVE.

3

2

2454

$777,000

1929 SE 74th AVE.

2

1

2272

$451,000

3574 SE GRANT ST.

5

3

2866

$830,000

2827 SE 59th AVE.

3

1

1670

$457,000

1407 SE 16TH AVE.

4

4

3373

$850,000

3227 SE STARK ST.

3

1

2504

$471,000

2517 SE 48TH AVE.

4

3

2790

$874,900

2106 SE 42ND AVE.

2

1

944

$475,000

2226 SE 55TH AVE.

4

3

3156

$891,000

2714 SE 63rd AVE.

3

2

2202

$485,000

6735 SE ASH ST.

5

3.1

3964

$1,100,000

1638 SE SALMON ST.

2

2

1494

$495,000

3604 SE OAK ST.

5

2.1

5449

$1,595,000

1732 SE 58TH AVE.

3

2

2002

$495,000

         

The statistics for solds and new listings are a matter of published and recorded information and are listed here as a community service. Total square footage (TSF) may include unfinished or partially finished basements.

Market Trend Report

Average Sales Price

Zip

97214972159720297206

Price

$629,981$552,606$588,075$382,036

in the past 12 months

↑4.01%↑3.01%↑7.15%↑9.20%

Average Days on Market

Zip

97214972159720297206

Days

483082142

Data provided by Regional Multiple listing Service. For questions or a more detailed analysis, feel free to call our office at 503.232.4763.

Months of Inventory

At the rate of current sales, how long it would take to deplete inventory.

Zip

97214972159720297206

Inventory

3.3 months1.6 months2.0 months1.9 months

Average Sales Price

Zip

97214972159720297206

Active

23232724

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