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12 Oregon homes sold for $200,000 over asking price or more in 2020
Updated Jan 01, 2021;
When the number of homes for sale is low and so are interest rates, competing home shoppers wanting a desirable mortgage may offer full asking price or more for a residential property. That’s the case in the Portland area, where the inventory of homes on the market has been minuscule for years and plunged to a record low in November.
The seller’s market forces buyers to face bidding wars or wait.
More than one in four 26.9% of homes in the Portland area sold for more than their asking price in 2019, according to an analysis by the real estate marketplace Zillow. As high as that sounds, that’s a drop from 31.7% in 2018.