2020-07-16 Portland Market Update
We hope you all are healthy and managing well with the current restrictions.
We have more good news regarding the real estate market as it continues to respond to the changing guidelines related to COVID-19. Check out our video below to see what's going on!
These statistics are for the Portland, Oregon Metro Area excluding Yamhill and Columbia Counties & Mount Hood Area.
June 2019: 2,756
May 2020: 1,963
June 2020: 2,709 - Down 1.7% from June 2019, but up 38% from last month!
6/16 – 6/30/20: 1,506 6/16 – 6/30/19: 1,327
7/01 – 7/15/20: 1,624 7/01 – 7/15/19: 1,204
Period Total 2020: 3,130 vs Period Total 2019: 2,531
Shows an Increase of 23.7% in 2020 vs 2019
Jan – June 2019 Jan – June 2020
Average Sale Price $456,700 $468,500 Increase of 2.6%
Median Sale Price $407,000 $423,000 Increase of 3.9%
Sentrilock Lockbox Activity has been very strong.
Normally about 25,000 per week this time of year, has been at roughly 23,000 per week the last few weeks which is considerably higher than the 10 – 11,000 at the beginning of the pandemic.
The fundamental reasons for people to buy or sell hasn’t changed, and rates are still very low.
The market is very strong, which seem counter intuitive!
If there is anything that we can do for you, please don’t hesitate to call!
If we can ask a favor, if you know anyone thinking about buying or selling, but they’re not sure about the timing, give us a call. We’ll take great care of them, go through the process with them, and see what’s best for them.
Until next time, thank you and stay well!
Portland Metro News
Come here to get updates on local real estate market information, community events, and helpful tips for homeownership in the Portland, OR region.