What is a “Seller’s Market” vs a “Buyer’s Market”
This summer and autumn of 2024 is the best time to sell your Pacific Northwest home.
What is a seller’s market? What is a buyer’s market? When it comes to deciding when the right time to buy a home is, look no further than both the national and local state of the real estate market. When we are writing this in 2024, most places, including Portland (OR), are in a seller’s market. This means that there are more buyers than there are sellers, meaning prices are high and sellers have more negotiating power. Sellers have negotiating power because there is little inventory currently available, especially in Portland. If we had to put money on it, we would argue that because of the looming rate cuts that the Federal Reserve has promised, buyers are eagerly waiting on the sidelines ready to buy. Many have already taken the leap and decided to start buying now. If you are a seller, make sure you are getting fair market value for your home! Do your due diligence and shop around for multiple offers. If you decide to use us for your home selling needs, I think you will find that we will pay you handsomely for your house! Additionally, at Smolin & Bell Group, you receive the benefit of hands-on care! We will personally guide you through whatever you need, offering constant communication and service.
This diagram from Chad Wilson is a simple yet effective representation of real estate economics in the current market on the West Coast.
Where is the market the strongest in Portland, OR currently? According to Portland Monthly, Dunthorpe, the West Hills, Laurelhurst, Grant Park, and Sellwood-Eastmoreland have the highest priced homes in the city. These locations are elegant, quiet, and safe neighborhoods that house some of the highest earners in the pacific northwest. Lawyers, doctors, investors, and business owners purchase and live in homes ranging anywhere from 1 to 10 million dollars. However, do not think that these are the only nice locations in Portland to live. In fact, we would argue that some of these neighborhoods lack the heart and soul that Portland is known for. The quirky city of bridges, known for its cyclists, beer, and coffee, is home to a vast number of desirable neighborhoods that offer countless amenities. You simply cannot beat the beautiful topography, easy access to countless outdoor activities, temperate climate, and reasonable real estate prices compared to other metropolitan areas. The best thing however, are the incredibly kind people who simply make Portland the place to be.
The time to sell is now!
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The time to sell is now! ~
Since Portland, OR is in a “Seller’s Market” right now, it may be a good time to sell your home. As a local investment firm, Smolin & Bell Group will help you weigh your options by giving you a cash offer. This way, our money will be wired right to your bank account in just 4 weeks (on average - could be even quicker!). Right now is the best time to sell your Pacific Northwest home to maximize your value. So don’t hesitate to fill out our cash offer form or call us at 503-345-7636 - anytime. You’ll be connected to a team member that will walk you right through the whole process to get paid for your home quickly!
