By Lydia Hallay, June 21, 2023
Find out what’s happening in the Portland real estate market for Late-June 2023.
Hi buds! I’m Lydia Hallay with Working Magic Group at Living Room Realty – here to tell you what you need to know about the Portland real estate market for the late of June, 2023.
The official start of summer was this week, and the Rose City is in full bloom. Since the end of May, we’ve seen a 7 percent increase in lockbox activity on listed properties in Oregon- a sign that more folks are out there shopping- even though interest rates are roughly twice what they were last June.
Buyers
The good news for buyers is, inventory is up and you’ve got more to choose from! Compared to this time last month, there are about 200 more properties on the market; and more are on the way. Working Magic Group, the two broker team I’m part of, has five new properties coming to market in the next couple of weeks; and we’re seeing that spike in activity across Living Room offices.
But if you want to compete, you’ll need to be ready to rumble.
Plan Ahead
Buyers, it takes time to get finances in order for a purchase. No matter your price point- in this market, desirable homes in great neighborhoods are moving fast. Days on market have steadily decreased – from an average of 84 in early May, to 70 this week. Of the three properties Working Magic listed over the last two weeks- two went pending after a weekend of opens- and one went pending before the opens even happened.
Putting your lender/realtor team in place before you fall in love means you’re less likely to be heartbroken when a home that lists Thursday is pending before you have a chance to get prequalified or get inside. Establishing a relationship with a realtor before you start scrolling (or visiting open houses) means you’ll know who to text when your dream home hits your feed. If you’re looking for lender connections, we’ve got you covered!
Summer Market
Historically, it’s not unusual to see buyer and seller activity start to decline as summer days get sluggish. Who wants to shop for or sell a house when you could be at the river?
Most brokers I’ve spoken to seem to be in agreement that this year, we’re about a month or two behind where we usually are in terms of market voracity. Things are just getting started!
If you’re thinking of selling this summer- it’s not too late! But if you want to maximize your sales price- you’re going to need to dial in your listing. Homes with on trend updates, curb appeal, staging, and a strong marketing push- move faster (and, often over asking price).
Whether you’re looking to buy or thinking of selling, call me today! I’d love to help you find your next Living Room.
Lydia Hallay
Broker | OR
She/They
Buying or selling a home is often one of the biggest (and most stressful) decisions you'll ever make. I'm here to make your experience as seamless (and fun) as possible.
Looking to buy? Whether you're a design-minded dreamer looking for that mid-century unicorn, an investor on the hunt for a fixer (or a 5-plex) to tear into, or a first-time buyer in need of a gentle guide - I'm a skilled negotiator with an eye for design and a knack for finding homes with "good bones." I'm on a mission to ensure you feel empowered and cared for throughout the home-buying process.
Ready to sell? If you want to maximize your sales price, you've come to the right place! With a background in landscape/interior design and construction/project management, I've got the tools it takes to make your house shine. When it comes to catching buyer attention, I go beyond the traditional (ex. open houses, RMLS, etc.)- incorporating cutting-edge tools and outside-the-box strategy to build the hype. When it's time to negotiate, my years of experience bargaining contracts mean I'm calm under pressure and know what it takes to get to YES.
Like many folks working in real estate, I've got a grab-bag of past lives that inform how I show up. Most of my 20's and 30's (17 years), I worked as a union organizer/negotiator on the state and national level- helping workers across sectors and industries join together and become leaders in the fight for better wages & benefits, a voice on the job, and political power. I've been an entrepreneur, a landscape designer, freelance florist, and have a deep well of personal experience with home renovation & property management under my belt.
Aside from working with buyers & sellers, I volunteer my time as the Integrity Chair on Living Room Realty's Broker Advisory Group. In that role, I serve as Living Room's broker representative for our B-Corp status.
A portion of every one of my paychecks goes to Taking Ownership PDX, a community collective of contractors, realtors, neighbors, and businesses who support Black homeowners to age in place, generate wealth, and deflect the gentrification process by deterring predatory investors and realtors.
About Me: I was born in Memphis, raised in the Sonoran desert (Phoenix), and have been in the PNW since 2003. I identify as queer, and use she/they pronouns. I'm married with sweeties (i.e., I practice ethical non-monogamy) and nest with my spouse, dog, and two cats in the Lents neighborhood of outer SE Portland. I'm a people person, music nerd, avid gardener, and seed-sower/organizer. Since coming to Portland in 2004, I've witnessed many iterations of the city. I'm bullish on the future here- and excited about all our region has to offer. Good food, proximity to nature, an incredible local music scene, and an inclusive community are just a handful of the reasons I love this area. As your realtor, I promise to show up as myself. I'll hustle hard on your behalf with patience, a good listening ear, professionalism, and a goofy sense of humor. What you see is what you get, friends. And if we decide to work together, that's the kind of authenticity I hope you feel comfortable showing too. Ready to make magic happen? Feel free to shoot me a text/email, or give me an old fashioned ring. I'm excited to meet you!
Land Acknowledgement & Mission Statement As a Realtor, the land I do business on is unceded Indigenous land. The Portland Metro area rests on the ancestral lands of the Cowlitz, Multnomah, Kathlamet, Clackamas, Tumwater, Tualatin Kalapuya, Wasco, Molalla, Watlala, Bands of the Chinook, and so many other nations who made this area their home. In addition to the federally recognized tribes mentioned, there are numerous “unrecognized” tribes and Indigenous groups whose stories are also important. I recognize these tribes' legacy, lives, and descendants, and acknowledge my role and responsibility as a guest on stolen lands. I am committed to using my voice and influence as a real estate professional (and, as a human being) to actively contribute to a more just and equitable future- one that promotes dignity, respect, and repair for the damaged caused by systemic oppression, white supremacy, homophobia/transphobia, and exploitative capitalism. If you can't get behind all that. We're probably not a good fit. :)
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About Me: I was born in Memphis, raised in the Sonoran desert (Phoenix), and have been in the PNW since 2003. I identify as queer, and use she/they pronouns. I'm married with sweeties (i.e., I practice ethical non-monogamy) and nest with my spouse, dog, and two cats in the Lents neighborhood of outer SE Portland. I'm a people person, music nerd, avid gardener, and seed-sower/organizer. Since coming to Portland in 2004, I've witnessed many iterations of the city. I'm bullish on the future here- and excited about all our region has to offer. Good food, proximity to nature, an incredible local music scene, and an inclusive community are just a handful of the reasons I love this area. As your realtor, I promise to show up as myself. I'll hustle hard on your behalf with patience, a good listening ear, professionalism, and a goofy sense of humor. What you see is what you get, friends. And if we decide to work together, that's the kind of authenticity I hope you feel comfortable showing too. Ready to make magic happen? Feel free to shoot me a text/email, or give me an old fashioned ring. I'm excited to meet you!
Land Acknowledgement & Mission Statement As a Realtor, the land I do business on is unceded Indigenous land. The Portland Metro area rests on the ancestral lands of the Cowlitz, Multnomah, Kathlamet, Clackamas, Tumwater, Tualatin Kalapuya, Wasco, Molalla, Watlala, Bands of the Chinook, and so many other nations who made this area their home. In addition to the federally recognized tribes mentioned, there are numerous “unrecognized” tribes and Indigenous groups whose stories are also important. I recognize these tribes' legacy, lives, and descendants, and acknowledge my role and responsibility as a guest on stolen lands. I am committed to using my voice and influence as a real estate professional (and, as a human being) to actively contribute to a more just and equitable future- one that promotes dignity, respect, and repair for the damaged caused by systemic oppression, white supremacy, homophobia/transphobia, and exploitative capitalism. If you can't get behind all that. We're probably not a good fit. :)
- T: 503-807-0156
- lydiah@livingroomre.com
