RMLS, the multiple listing service covering Metro Portland has just released their market action report for February, 2021 which has the market information through the end of January 2021, and its good or bad..... Depending if you are a seller or a buyer.

First off, comparing 2021 to 2020 through January, the Portland area average sale price has increased 11.2% from $463,000 to $514,700. In the same comparison, the median sale price has increased 13.3% from $406,000 to $460,000, and the average market time in the entire metro area for all properties combined is 44 days.

The issue is for buyers in the sub $550,000 mark where its not uncommon to see as many as 50 offers on any one house and this presents a problem. Caity and I have mastered many ways to help your offer stand out from the others and have beaten out some cash offers on properties. So if you are thinking of buying a home or know someone who is, remember... Experience matters and we have been at this game since 1988 - 32 years, so reach out! You can view the entire 7 page report here.

HOAs (or more accurately Home Owners Associations) arent just for condos. Many people think this is the case and that makes sense as there is this entire condo property to look after but HOAs are very common in the Portland area for detached home neighborhoods too, in fact I live in one. In our case it covers common area maintenance and a pool too but they can often be just for maintaining the big sign with your neighborhood name or even your street. Check out this video as Rob explains home owners associations and what to watch out for.

As radon testing has become more commonplace everywhere, its becoming obvious that Radon gas is a serious issue in some parts of the Portland area. As you can see on the map on the right, there are some real "hot spots". Radon is an odorless, colorless gas and its the second leading cause of lung cancer in the US. Has your home been tested for radon? It costs about $175 and is a good idea to do. More information at this link.

Thanks for checking out this newsletter, and thanks for supporting our real estate team for all these years. Many of you have reached out to me to talk about your real estate concerns. I love catching up with my clients and welcome your calls. Stay safe , ROB LEVY and CAITY ABOUAF