We hope you all are healthy and managing well with the current restrictions.
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We have more good news regarding the real estate market as it continues to respond to the changing guidelines related to COVID-19. Check out our video below to see what's going on!  ​

These statistics are for the Portland, Oregon Metro Area excluding Yamhill and Columbia Counties & Mount Hood Area.

Closed Sales
June 2019:  2,756 
May 2020:  1,963
June 2020:  2,709 - Down 1.7% from June 2019, but up 38% from last month!
 
Pending Sales
6/16 – 6/30/20: 1,506     6/16 – 6/30/19: 1,327
7/01 – 7/15/20: 1,624     7/01 – 7/15/19: 1,204
Period Total 2020: 3,130   vs   Period Total 2019: 2,531
Shows an Increase of 23.7% in 2020 vs 2019
 
                                          Jan – June 2019                 Jan – June 2020
Average Sale Price           $456,700                              $468,500                              Increase of 2.6%
Median Sale Price             $407,000                              $423,000                              Increase of 3.9%
 
Sentrilock Lockbox Activity has been very strong.
Normally about 25,000 per week this time of year, has been at roughly 23,000 per week the last few weeks which is considerably higher than the 10 – 11,000 at the beginning of the pandemic.
 
The fundamental reasons for people to buy or sell hasn’t changed, and rates are still very low.

• Moving school districts
• Needing a home office
• Upsizing / Downsizing

 
The market is very strong, which seem counter intuitive!

If there is anything that we can do for you, please don’t hesitate to call!

If we can ask a favor, if you know anyone thinking about buying or selling, but they’re not sure about the timing, give us a call. We’ll take great care of them, go through the process with them, and see what’s best for them.

​Until next time, thank you and stay well!

These statistics are for the Portland, Oregon Metro Area excluding Yamhill and Columbia Counties & Mount Hood Area.

PENDING SALES
5/15 – 5/31/19                  5/15 – 5/31/20                 
        1570                                   1592                       Increase of 1.4%
 
6/01 – 6/15/19                  6/01 – 6/15/20
       1310                                   1684                       Increase of 28.5% !!           
 
The Real Estate Market is certainly starting to pick up.

You’re going to hear that Closed Sales are significantly down in the month of May, and that’s true (they are down 34% from May 2019).  BUT that is because the homes closing in May are from those that went Pending in late March and April when the COVID restrictions went into place and caused many buyers and sellers to hold back on their plans.

Days on the Market is down to 38 Days on average.
 
                                         Jan – May 2019                  Jan – May 2020
Average Sale Price           $452,700                              $465,600                              Increase of 2.8%
Median Sale Price             $402,400                              $419,000                              Increase of 4.1%
 
Many times, we are dealing with multiple offers because of the low inventory of homes for sale.

If you, or someone you know, are thinking about making a move, maybe you’ll be working from home more often and need office space, or you want the kids in a new school district, give us a call. 

We are happy to help and never too busy for your referrals!

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!