We are seeing a bit of a leveling off. We are not seeing as many multiple offers or prices shooting up above the list price, although we are still seeing some. We are still in a "lack of supply" driven market with inventory only at 1.1 months.
September 2021 vs. August 2021
New Listings: 3,760 vs. 3,698, increase of 1.7%
Pending Sales: 3,170 vs. 3,535, decrease of 10.3%
Closed Sales: 3,167 vs. 3,219, decrease of 1.6%
The decrease in pending sales is somewhat seasonal with the slowdown going into the holidays/winter.
With interest rates still very good, in the 3% range, buying power is strengthened because there is less competition forcing buyers to have to offer well over asking price.
It certainly is a case-by-case basis on whether homes are selling at, above or even below list price, but we are starting to see things normalize. We’re not likely to see a true drop-off as buyers who have been discouraged and frustrated by the heavy competition of the market will start to get back in the market looking for homes.
It really is a fabulous time to be buying or selling!
If there is anything that we can do, please don’t hesitate to give us a call. We’re never too busy to help you or anyone you know. And we really appreciate all your business!
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of September 2021. Click on the image below to see the full seven page detailed report.
*Home inventory refers to 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 any additional homes for sale.
These days, we’re spending a lot more time behind our screens. In 2021, we’ve been clocking five to six hours of phone time a day, according to the data site Statista. And this doesn’t even factor in Zoom calls, television time and the other times where we swap the “little screen” for the “big screen.” If you’re feeling the effects of this tech on your mental health — think brain fog, poor sleep, low productivity, etc. — consider a digital detox! While it’s impossible to unplug completely, the information below will help you take a 24-hour break from your devices to reset and improve focus. You’ll also find some activities to try while you’re offline. See for yourself how time off the grid can improve your mental well-being!
When you change your thoughts, you can change your life. Sounds simple, doesn’t it? However, many of us are our own harshest critic, and we have negative thoughts that take us down instead of building us up.
This month, check out what it takes to truly embrace a positive mindset. You’ll read about imposter syndrome – what it is and how you can kick it to the curb with a mindset shift. There’s also space to reflect on your own intake, associations and affirmations, so you can become more intentional about putting the good stuff in and forging a more confident, positive path forward.
Naturally, your mindset won’t completely shift overnight. Just take it one thought at a time, and over the next few months, take note of how you feel. When you do this, you’ll be able to calm your busy mind and feel happier in your day-to-day!
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.