April 2020 - Market Update - Portland, OR

With all the changes in the real estate market as a result of restrictions and guidelines pertaining to the Covid-19 situation we want to provide updates a little more frequently with real time statistics. Check out our video below to see how the last half of April compared to the first half of April 2020.

Loan Qualifications are tightening some, but not so much that we can’t get loans. If you need a good lender, please reach out for our recommendation!

Houses are sold everyday in good markets and bad. The reasons people move doesn’t change.
• Moving to a different school district
• Needing a home office
• Upsizing or downsizing
• Kids have moved away
• Grandparents moving closer to grandkids

**Now may be a good time for you to sell as there isn’t as much competition for sellers!
**Now may be a good time for you to buy to take advantage of the low interest rates!

If there is anything we can do to help, please reach out to Jimmy or myself. We are hear to help in any way that we can!  Stay Safe and Stay Healthy!

All Portland Metro Areas
4/1/20 – 4/14/20 Verses 4/15/20 – 4/30/20
New Listings:                                798 vs. 1487
Pending:                                        677 vs. 1111
Pending from New since 4/15:  264 vs. 467
Closed Sales:                                 627 vs. 955

Just the Westside (included in Portland numbers)
4/1/20 – 4/14/20 Verses 4/15/20 – 4/30/20
New Listings:                                 352 vs. 621
Pending:                                         306 vs. 471
Pending from New since 4/14:  123 vs. 187
Closed Sales:                                 265 vs. 420

Sentrilock Activity (Showings) - Typically about 25,000 this time of year.
The lowest week of activity was Wk Ending 4/5/20 with 10,493 showings
Wk Ending 4/19/20: 12,477 up 12.3% over the previous week
Wk Ending 4/26/20: 14,840 up 18.9% over the previous week