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Market Update  |  DECEMBER 2024
As the holiday season is in full swing, I want to take a moment to reflect on the year we've shared. It's been a dynamic one in real estate, with shifts in interest rates, ongoing inventory challenges, and a resilient market that continues to surprise us all. Through it all, I’ve been honored to support you, whether buying, selling, or simply exploring your options.
The holidays are a time to pause, celebrate, and cherish the people and places that mean the most. Our homes are at the heart of this season—where we gather, laugh, and create memories with loved ones. I feel incredibly grateful to play a part in helping you find that special place to call home or guiding you through the process of moving on to your next chapter.
 
As we wrap up 2024, I want to share my heartfelt thanks for your trust, your referrals, and the conversations we've had. Your support is what keeps me inspired and dedicated to this work.
Looking ahead to 2025, I remain here as your resource—ready to guide you through market insights, new opportunities, or any questions you have about the year to come.
 
If you're thinking about a move in the coming year or want to catch up on market trends, don’t hesitate to reach out. Let’s connect over a cup of coffee or a warm holiday treat!
 
Warm holiday wishes to you and your family!
May this season bring you peace, joy, and countless reasons to celebrate. And may the New Year be filled with happiness for you and those you love.
 
With gratitude and cheer,
Meg Barrett
P.S. Thank you for trusting me with your referrals - they mean the world to me. Here’s to a joyful holiday season and a bright New Year!

Market Update
As we close out 2024, I want to give you an update on current housing market conditions. According to a recent article by Redfin, despite mortgage rates remaining high, the Homebuyer Demand Index is up 7% and at its highest level since September 2023. In addition, mortgage purchase applications are up 17% month over month.
 
This means that if you’re looking to make a move in 2025, competition is already starting to ramp up. Also, if you’re looking to sell your home, you can likely expect to get 100% of your list price with 37.4% of homes selling above list and only 36% of homes taking a price drop.
 
While 2024 hasn’t been a great year for real estate, prices have come up slightly and demand is still strong. Mortgage rates have been the hot topic for the last 2 years and current projections are that mortgage rates are not going to vary much in the next 12 months, so likely to be the new norm for the short-term future.
 
If you need to make a housing change, things aren’t as bad as what you’re probably hearing. Sellers can still get a great price for their home, and if buying, will need to be ready to act fast. Planning now is key. If you’re even considering a change next year, I’m available and look forward to connecting!
 
Real Estate Principal Economist Jeff Tucker discusses his housing market predictions for the coming year. Will interest rates drop? What will happen to home prices? Will housing become more affordable? Watch his 2025 housing forecast video to get answers to these questions and more.
 
ADDITIONAL HOUSING MARKET RESOURCES
November Statistics for the Portland Metro Area - RMLS Market Action Report
November Statistics by Zip Code - By the Numbers Report
 

 
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GRAND OPENING
Literary Arts Celebrate Grand Opening of Its New Headquarters Building
On Saturday, December 7, Literary Arts celebrated the grand opening of their new home. Literary Arts is a community-based nonprofit literary organization based in Portland. Their mission is to engage readers, support writers, and inspire the next generation with great literature. With their new headquarters now open, I encourage you all to attend their events as it's a great organization to get involved with. 
 

HOLIDAY
Last-Minute Holiday Gift Ideas
 

EVENTS
Discover Portland
 
 
MORE EVENTS
December 21-22
11 AM - 4 PM
1715 NW 17th AVE
 
 
901 SE Hawthorne Blvd
 

The Art of Downsizing
with the help from your trusted Real Estate Broker
 
Has the thought of a retirement community crosses your mind for yourself and or a loved one? I'm thrilled to connect you with wonderful resources tailored to your needs and preferences. Exploring retirement living options can be an exciting journey, and having access to the right information makes all the difference.
 
Check out this fantastic resource to guide you on this path!
 
 
My work in real estate is about helping people optimize their lives. Sometimes this takes more than knowing the market. When clients are downsizing, my experience with the emotional and logistical aspects of the transition makes for a more seamless move.
 
When a house holds the memories of a lifetime, and clients feel connected to a neighborhood and a community but need a fresh start in a new place, the transition can be emotional and challenging. I love to be present with my people. It brings me joy to honor the history and life of a client’s home, let the home shine, and support my client in all aspects of the move.
 

 
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