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Weekly Report

1/7/2021
More time, more attention, best outcome.

Hey Neighbor,

I think there might have only been 6 days in this last week. Time's flying. Did you make any New Years' resolutions? If you did, I hope you accomplish them! I’m a big to-do-list person. I’m going to expand and start adding areas outside of work on those lists. Family, friends, and health. 

 

How's the house holding up? Outside of today, which I think turned out to be beautiful, it has been nasty out. Is your home withstanding the rain? If anything comes up you need help on, give me a call. I’m going to start including deals/discounts offered by different home service providers I work with, exclusively through me. I’m going to include these discounts in both this email and in a text group I’m creating. Sign up and whenever I work something out, you’ll get a 150 character text (or less) with the offer! More info below. 

 

Alright, we'll have a great rest of your week. Do something fun this weekend! I’m around if you need anything.

 

Best, 


Evan Zener 
Strong|Edge Realty Team w/eXp 
strongedgerealty.com
971-285-0847

Portland-Metro Market Report - 2020 review 

Year-to-Date Summary- Comparing the first eleven months of 2020 to the same period in 2019, new listings (36,619) decreased 6.7%, pending sales (30,933) increased 7.5%, and closed sales (29,159) increased 6.5%.
 
Average and Median Sale Prices- Comparing 2020 to 2019 through November, the average sale price has increased 7.1% from $459,300 to $492,000. In the same comparison, the median sale price has increased by 6.8% from $410,000 to $438,000.
 
Mortgage rates in 2020 have dropped due to the Federal Reserve lowering rates in response to COVID-19. As of this writing in November 2020, the average 30-year fixed mortgage rate with a 20% down payment had just hit fresh record lows at 2.72% according to Freddie Mac.
Zillow Home Value Forcast
Zillow's Market Review & Forcast

The typical home value of homes in Portland is $497,589. This value is seasonally adjusted and only includes the middle price tier of homes. Portland home values have gone up 8.5% over the past year and Zillow predicts they will rise 10.4% in the next year.
Zillow's 1 Year Forcast- review 

It would be nice if they included an explanation. If there was that kind of continued growth, I don't think it's sustainable. The price increase that we've had over the past several months has been largely due to low inventory and low mortgage rates. As long as inventory stays as low as it is, I think that kind of price increase could continue... but when the market comes back and inventory rises, I think that number will re-adjust and drop. Especially if the people getting in the market are selling their properties because they need the money, as a result of the pandemic/lockdowns, and are willing to take less. I thought that would have been more of a trend by now. I don't know how this pandemic could be good for the market long term. 
Redfins Median Sale Price Growth Chart
Here is Redfin's median sale price growth chart over the past 3 years. A little different from Zillow's graph. A little more detailed. In this chart, we're seeing a dip in the last month, which I'm not seeing in any of the RMLS's reports. We haven't gotten back Decembers numbers for all of Portland-Metro yet, but Multnomah county is in and we saw a %11.56 year over year growth in Dec, which is up from the %9.87 increase in November.
Hey, this looks fun. Something actually to do! I'm going to check it out and report back.

Due to popular demand, our unique distanced outdoor skating events will be BACK at the Lloyd Center for the Holiday school Break (excepting Dec 24th and Dec 25th). Join us in the open-air, covered parking garage for some winter skating fun!
View Event

As large swaths of the economy shut down in March due to the COVID-19 pandemic made clear that the economic expansion that began in June 2009 had ended. -Center on Budget and Policy Priorities 

Here is an in-depth article breaking down Covid's effect on the economy, broken down into easy to digest graphs.

 

View Full Article
Stay tuned for more fun things to do next week!
Property Discount Text Group
Property Discount Text Group- Sign Up & receive text message discounts on services local home service providers I work with are offering, exclusively through me. 

I'm excited about this idea. I think I'll be able to put together some good deals with the different home service providers I work with, to be able to offer to you. I send them a lot of work and I'm a good negotiator. I want to offer as much value to everyone in this email that I can, and I'm always thinking! 
sign up for text group
Watch Filmed Report

Portland Property Search

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If your area code is not listed below, when directed to Zillow, edit the area code in the search bar to view your desired area. To switch from "sold listing" to "recently listed", edit filter directly to the right of the search bar.

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