What Did That Home Sell For?!? How Multiple Offers Raise Prices Up in Portland

by | May 5, 2015 | How to Guides, Market Reports

What did that home sell for?!?

How Multiple Offers Raise Prices Up in Portland

If you’ve been looking for a home in Portland Oregon lately you know it’s not easy being a buyer. The inventory is so low that most good homes in close-in areas are getting multiple offers.

When more than one offer is written on a property you know the price is going up, but how much more, over the list price, are homes really selling for?

I took a look at one month of sales in Portland for homes with RMLS remarks that said there were multiple offers or that the seller was reviewing offers a couple days after listing the house. Here’s what I found:

For homes sold in Portland with multiple offers in Winter/Spring 2015

North Portland: 104% of asking price
North East Portland: 106.5% of asking price
South East Portland: 107% of asking price

Now take the average list price and see how much that pushes prices in dollars:

North Portland: $282,000 average list price = $11,300 over list
North East Portland: $371,000 average list price = $24,100 over list
South East Portland: $383,000 average list price = $26,800 over list

You can see the detailed reports here:

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