Portland Metro Highlights

July 2017 Market Update

Average and Median Sales Prices continued to rise in July

- Average sales price rose 9.3% from $391,600 to $428,000
- Median sales price rose 11.2% from $340,000 to $378,000

Market activity for the month: Overall real estate activities experienced typical summer seasonal cooling in July.
- Closed sales at 2,793 were lower than June 2017 when 3,187 homes closed.
- New Listings were at 4,202 as compared to June 2016 of 4,739.
- Pending Sales at 3,040 dropped 6.6% as compared to June 2017 of 3,254
- YTD Days on Market Average 33 days, July Inventory is 2.1 months

Arnett's Sales Activity
SOLD- 9435 SW Hall Blvd., PDX $229,800 represented Seller
SOLD- Jantzen Beach Condo $163,000 represented Buyer
SOLD - 9475 SW 90th $260,000 represented Seller
SOLD - 719 9th St Oregon City $317,000 represented Buyer
Listed - 21400 NE Bald Peak Rd, Hillsboro at $858,800
Listed - 2039 B St, Forest Grove - $268,000 (Duplex)
Pending - 2268 Saint Moritz Loop, West Linn representing Seller
Pending - 6622 SE Pine Creek Way, Milwaukie representing Buyer
Pending - SW Villebois Townhome representing Buyer
Pending - 1920 SW River Dr. PDX representing Buyer

For additional Portland Market Condition Information click on the link below


For the Latest Portland Real Estate Market Highlights - check out the Market Action Report & Neighborhood Stats below.

In the event you or someone you know is thinking about selling or buying a home, give me a call at 503-319-5684 or email arnett@realtytrust.com to discuss current market activity and conditions.
Cool Summertime Home and Travel Tips

Reverse the Ceiling Fan for Better Cooling

Did you know that reversing the direction of a ceiling fan can improve its cooling effect? Making the blades spin counter-clockwise causes the air to be pushed straight downward, which creates more of a breeze.

Tip: The experts at the Simple Dollar recommend buying ceiling fans that have a blade angle of 12 to 14 degrees for rooms where you don't want papers to be blown around, and over 14 degrees for general use rooms. A 44-inch fan is sufficient for most medium-sized bedrooms or kitchens, according to their website.

Is Your Home Insured While You're Traveling?

Many homeowners who depart on summer travels don't realize that their home insurance coverage may change if they are gone for more than 30 or 60 consecutive days. The "Vacancy" clause in any home insurance policy explains the details, which vary by company.

For example, a Vacancy clause may state that if the home has been unoccupied for more than 60 consecutive days, the policy no longer covers damage due to "vandalism and malicious mischief" (including fire or theft - yikes!) Some insurance companies consider a home occupied if you have a house-sitter, while others do not.

"Vacant" homes (typically defined as having no furniture or occupant) are treated differently, as explained in this helpful Insurance.com article. Either way, it's a good idea to check your policy's Vacancy clause before leaving for a long trip.

This Swimming Pool Escape Ramp Saves Wildlife

The FrogLog is a clever little device that has saved thousands of wild animals from drowning in backyard swimming pools. Invented by a wildlife biologist, it provides a floating step and a ramp so that frogs, squirrels, and other animals can haul themselves out of the water and get back to dry land.

Image courtesy of www.FrogLog.com

(Amphibians are water-friendly, but will die if exposed to chlorinated water for too long.) Many of the people who leave rave reviews on the FrogLog website say it should be standard poolside equipment, and it would certainly make a great housewarming gift for anyone who has bought a home with an outdoor pool.

The best deal in terms of price and guarantee right now appears to be directly on the FrogLog website.

Keeping Pets Safe On Road Trips

If a furry friend is part of your summer travel plans, you already know the dilemma: how to keep them safe when you need to pop into a store on a sunny day? Here are some stats that are useful to know:
  • A car can become lethally hot on a sunny day even if the outside temperature is only 65 degrees F.
  • When it's 85 degrees outside a car heats up to 104 degrees in only 10 minutes, and to 119 degrees in half an hour.
  • Studies have shown that leaving car windows cracked open makes very little difference.
There isn't a simple solution to this problem, which is getting more and more media attention. Ultimately it may sometimes require being willing to lose the car's contents and leaving the windows wide open to keep Fido safe from heat stroke.

For Late Summer Flowers, Consider Sage

Ornamental sage (also called Salvia) is a colorful addition to an outdoor or container garden for anyone who'd like a fall-blooming flower. Salvia comes in many different varieties and colors, with some that are hardy down to Climate Zone 4.

Late-blooming flowers like this are also good for migrating hummingbirds, which tend to transition from an insect-rich diet to a more nectar-based diet prior to their journey in the fall, according to EcoWatch.

Here's a good list of ornamental sage varieties categorized by Climate Zone hardiness.

Recent Market Highlights
Market chart icon

- U.S. home prices rose 5.6 percent year-to-year in May, according to a recent S&P/Case-Shiller report. They rose 6.7 percent year-to-year in June, according to CoreLogic, a data and analytics company.

- The national average 30-year fixed mortgage rate is around 4 percent.

The June Pending Home Sales Index rose .5 percent year-to-year, according to the National Association of Realtors®.
Note: Housing statistics based on closed sales typically reflect market conditions of two or three months ago. To find out what's going on right now in your local market, please contact me directly.

Contact Me for Market Information
Are you curious about your home's current market value, or do you have a question about home buying? Just reply to this email, or call me at (503) 319-5684.
Links that Make Life Easier

Sometimes real estate-related, sometimes not... these are assorted links that come in handy:

Plants for a Colorful Shade Garden
HGTV's suggestions for colorful plants that thrive in shady areas.

Overview of State "Hot Car" Laws
See which states have laws that allow law enforcement officers and/or the public to break into cars to rescue animals in danger.

Grilled Shrimp Tacos with Sriracha Slaw
A fun grill recipe that's light enough that you may not have to take a three-hour siesta after the meal. :)

The Lighter Side

Here's a funny gallery of unusual sights that pet owners have been treated to upon waking up in the morning. Click here or on the image above to see the pictures
on the family-friendly LittleThings website.

Are you thinking of buying or selling a home in the next year, or could you use some remodeling advice? Even if you just need the name of a good service provider, please remember that I'm always here to help you. I welcome the opportunity to serve you, your friends and associates with my expertise and recommendations.
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