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Mid Year -2021 Video Market Update - Portland, OR

6/21/2021

Comments

 
We decided to compare May 2019 to May 2021 to get a closer comparison against a more “typical” year
rather than comparing the data to 2020, that is skewed due to the issues surrounding the COVID pandemic.
​So, keep in mind that there is a two-year gap between these numbers.
MAY 2019 COMPARED TO May 2021
NEW LISTINGS are down 19%, with 4,902 vs 3,971 new homes on the market.
PENDING SALES are up 12.9%, with 3,292 vs 3,717 homes going under contract during the month. (Sellers who have accepted offers but have not closed yet).
CLOSED SALES are up 7.1%, with 2,969 vs 3,183 home closing escrow during the month.
 
AVERAGE SALES PRICE: 2019 vs 2021
$471,200 vs $582,200, or a 23.5% increase
 
MEDIAN SALES PRICE: 2019 vs 2021
$420,000 vs $515,000, or a 22.6% increase
 
MONTHS OF INVENTORY
At the end of May 2021, we have another RECORD low inventory at 0.7 months.  This means that if we don’t put any more homes on the market to sell, it would take us just 3 weeks to sell everything in Portland. By comparison May of 2019 inventory was 2.1.
 
We are in a lack of supply driven market. We have much more demand than houses for sale, plus very low interest rates. It is not uncommon to have multiple offers on homes for sale, so homes are often going for more than asking price.
 
It is a great time to be selling.  It is a little tougher to buy, but we have great strategies that have been successful in helping buyers get into homes they want.
 
If there is anything that we can do for you, please give us a shout!  We are here to help however we can. If you are looking to make a move, or you know someone who is, we would love the referral.
 
We hope everyone continues has a better 2021. 
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May 2021 - Market Action Report - Portland, OR

6/16/2021

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of May 2021.  Click on the image below to see the full seven page detailed report.
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Home inventory:  (the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing additional homes) Slipped again for a new RECORD LOW at 0.7 months of inventory.

The median sales price continues to rise UP 21.2% over May of last year now at $515,000. 

May 2021 vs April 2021
New Listings are down 2.3%
Pending Sales are up 9.3%
Closed Sales are up 8.0%


May 2021 vs May 2020
New Listings are up 16.1%
Pending Sales are up 19.4%
Closed Sales are up 62.1%


Homes are typically selling 16 Days faster than May of last year.
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The Benefits of Estate Planning

6/15/2021

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Whether you’re starting a family or celebrating your first grandchild, it’s important to plan ahead. While you may not be thinking about it just yet, wouldn’t you want to know that those loved ones would be taken care of if you weren’t around? That’s where building an estate plan can help. This infographic explains a few reasons why setting up a will or estate plan now is so beneficial, even if you’re just starting your family journey. You’ll also learn what to double check in your will to make sure your wishes are carried out exactly how you want. Preparing for the future now will grant you more peace of mind down the line!
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Expecting the Unexpected

6/1/2021

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It’s almost impossible to predict when a crisis may occur. From major storms to a global pandemic, the world has experienced a handful of unexpected events in the past few years.
 
When weathering a storm — figuratively or literally — it’s important to be prepared. That’s why we're sharing information to help you in times when the unexpected happens. You’ll find tips on how to keep you and your family safe during an emergency weather event like a hurricane, tornado or fire. There are also a few pointers for protecting pets during these events.
 
Emergency preparedness may not be most fun thing to talk about, but it’s still important to make sure you and your family are ready for anything. It is my hope that these tips bring you comfort and peace-of-mind by helping you expect the unexpected!
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  • Home
  • About Us
    • Mission Statement
    • Rick McDowell
    • Jimmy McDowell
    • Becky Shaw
    • Client Testimonials
  • Sellers
    • What's My Home Worth?
    • Selling a Home in an Estate
  • Buyers
    • Preferred Lenders
  • Our Listings
    • LISTING - Lambert St
    • Listing - 37th Ave
  • Home Search
  • Resources
    • Preferred Lenders
    • Business Directory
    • Client Survey
    • Super Bowl 2023
  • Blog
  • Contact Us