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2020-05-21 Portland Market Update

5/21/2020

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We are releasing updates a little more regularly due to the real estate market changing so quickly in response to changing guidelines related to COVID-19.  Check out our video and notes below so see what's going on!
All Portland Metro Area

                                 April 15 – 30, 2020          May 1 – 14, 2020          May 1 – 14, 2019
New Listings                    1487                                 1349                                1457

Pending Sales                  1111                                 1212                                1281

Pending of Listings
since May 1st                    467                                    412
 
Sold                                    955                                    687
 
 
Sentrilock Activity (Showings) – Average this time of Year is 25,000
Bottom week was Week Ending 4/5/20 at 10,493

Week Ending
5/3/20                  16,540                   11.5% increase over the previous week
5/10/20                17,132                     3.6% increase over the previous week
5/17/20                18,566                     8.4% increase over the previous week
 
The one thing I’ve learned in almost 32 years in real estate is that houses are sold every day, in both good and bad markets!
 
The “Big Why” doesn’t change:
  • Out growing your home
  • Need a different school district
  • Downsizing
 
Now is a really good time to put your home on the market, particularly if you want to move before the new school year!
 
Stay Well and Stay Healthy!
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How to Host the Perfect Virtual Gathering

5/15/2020

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​Social distancing doesn’t have to pause your social interaction! Fortunately, the digital world has made it easier than ever to stay connected with friends and family from afar. In the eReport below, you’ll find everything you need to know to plan the perfect online gathering. Learn what video platforms to use, how to send invites and even ways to play games or watch movies at the same time — but not in the same place. Enjoy! 
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April 2020 - Market Action Report - Portland, OR

5/15/2020

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of April 2020.  Click on the image below to see the full seven page detailed report.
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We have 2.4 months of home inventory which is still very low.  The year to date median sales price is UP 3.9% at $424,000, over this same period last year. 

April 2020 vs April 2019
New Listings are down 32.3%
Pending Sales are down 34.2%
Closed Sales are down 16.4%

However, homes are typically selling about about 11 days FASTER than this period last year.
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Preparing Your Credit for the Future

5/1/2020

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Recently, we have been receiving much information regarding COVID-19.  As we continue to navigate uncertainty together, it is important to remember that THIS TOO SHALL PASS. That’s why this month, we want to share information to help you prepare for life after these trying times.
 
Credit is one subject that will always be important, which is why this Item of Value is helping separate credit facts from fiction. No matter what your current financial situation is, you can use this information to become a credit master and strengthen your own score down the line.

There is also a breakdown of the different scoring models to highlight habits that will help you achieve credit success.
Even though the world seems to be on pause right now, the situation will pass. When it does, you will be ready to view your credit situation with fresh eyes and come out stronger, no matter where you started. In the meantime, please know that we are here for you and your family during these challenging times. If there’s anything we can do to help, do not hesitate to call. Stay healthy!
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April 2020 - Market Update - Portland, OR

5/1/2020

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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 
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  • Home
  • About Us
    • Mission Statement
    • Rick McDowell
    • Jimmy McDowell
    • Becky Shaw
    • Client Testimonials
  • Sellers
    • What's My Home Worth?
  • Buyers
    • Preferred Lenders
  • Our Listings
  • Home Search
  • Resources
    • Business Directory
    • Preferred Lenders
  • Blog
  • Contact Us