Happy New Year from the McDowell Team!
2021 has got to be better than 2020! We have vaccines coming out and being distributed, and we're going to get through this! Check out the video below to learn what the market is doing!
As of the end of December, we have RECORD low inventory at 0.8 months. This means that if we don’t put any more homes on the market to sell, it would take us just a little over 3 weeks to sell everything.
DECEMBER 2020 vs DECEMBER 2019
NEW LISTINGS are up 37%, with 1,740 vs 1,270 new homes on the market.
PENDING SALES are up 13%, with 2,003 vs 1,772 homes going under contract during the month.
CLOSED SALES are up 26%, with 2,789 vs 2,213 home closing escrow during the month.
YTD AVERAGE SALES PRICE: 2020 vs 2019
$494,000 Vs $459,000, or a 7.6% increase
YTD MEDIAN SALES PRICE: 2020 vs 2019
$440,000 Vs $410,000, or a 7.3% increase
AVERAGE SALE PRICE: DECEMBER 2008 vs DECEMBER 2019
$514,000 Vs $457,700, or a 12.3% increase
The market is moving very fast. Homes are selling very quickly and for more money. This is a GREAT TIME TO SELL, and the market needs more houses to sell. This is being driven by very low interest rates making it A VERY GOOD TIME FOR PEOPLE TO BUY as well! The problem is that the level of competition makes it harder to get into accepted deals.
We have great programs and systems that we work with that helps our clients get into houses! If there is anything that we can do for you, please don’t hesitate to give us a call! We are here to help however we can.
We hope everyone has a fantastic 2021!
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of December 2020 and the Full Year of 2020. Click on the image below to see the full seven page detailed report.
Maximize Space in Your Home
Need more space? You’re not alone! This year, many people are searching for a place with room for an office, workout space, learning area and other activities we’ve started to do from home. If you’re not ready to make a move just yet, there are a few strategies you can use to optimize the space you do have. Check out the information below for small tips and tricks to make the most out of every nook and cranny in your home, making it feel like new!
2021 Real Estate Market Snapshot
This past year was filled with twists and turns that no one could have predicted. It wasn’t always easy, but now that we have entered into 2021, it’s time to shift our focus toward a brighter future.
If the economic uncertainty of 2020 had you concerned, we're here to bring some peace-of-mind for 2021 when it comes to the housing market. The information we're sending this month provides a well-rounded snapshot of the real estate market today, while noting a few trends to watch as the year unfolds. We're also including a short quiz to help you figure out if now is the right time for your family to make a move, especially if your needs have changed since last year.
We hope this piece provides you with clarity on the market, so you can better prepare for 2021. Don’t hesitate to call us with any questions about the latest trends! Remember, real estate is still local — we're happy to shed some light on how our area’s market is looking this year.
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.