Category: Market Updates - THE MCDOWELL TEAM OF PREMIERE PROPERTY GROUP, LLC

March 2021 - Market Action Report - Portland, OR

4/16/2021

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of March 2021. Click on the image below to see the full seven page detailed report.

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) FELL AGAIN to a RECORD LOW at 0.8 months of inventory.

The median sales price is continuing to rise UP 14.8% over March of last year now at $488,000.

March 2021 vs February 2021
New Listings are up 40.1%
Pending Sales are up 51.5%
Closed Sales are up 29.2%

March 2021 vs March 2020
New Listings are down 0.1%
Pending Sales are up 42.6%
Closed Sales are up 8.5%

Homes are typically selling 24 Days faster than March of last year.

February 2021 - Market Action Report - Portland, OR

3/17/2021

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of February 2021. Click on the image below to see the full seven page detailed report.

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) remains extremely low at 1.0 months of inventory.

The year-to-date median sales price is continuing to rise UP 15.3% over this same period last year now at $479,100.

February 2021 vs January 2021
New Listings are down 4.1%
Pending Sales are down 11.5%
Closed Sales are up 7.1%

February 2021 vs February 2020
New Listings are down 10.3%
Pending Sales are down 15.0%
Closed Sales are up 4.3%

Homes are typically selling 26 Days faster than February of last year.

January 2021 - Market Action Report - Portland, OR

2/12/2021

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of January 2021. Click on the image below to see the full seven page detailed report.

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) remains extremely low at 1.0 months of inventory.

The year-to-date median sales price is continuing to rise UP 13.3% over this same period last year at $460,000.

January 2021 vs December 2020
New Listings are up 48.2%
Pending Sales are up 24.6%
Closed Sales are down 33.8%

January 2021 vs January 2020
New Listings are down 6.4%
Pending Sales are up 9.9%
Closed Sales are up 11.1%

Homes are typically selling ONE MONTH QUICKER (30 days) than January of last year.

END OF YEAR Video Market Update - Portland, OR

1/19/2021

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!

December 2020 - Market Action Report - Portland, OR

1/16/2021

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.

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) fell even further to a RECORD 0.8 months, the new lowest in RMLS record.

The year-to-date median sales price is continuing to rise UP 7.3% over this same period last year at $440,000.

December 2020 vs November 2020
New Listings are down 22.3%
Pending Sales are down 21.7%
Closed Sales are up 1.6%

December 2020 vs December 2019
New Listings are up 37.0%
Pending Sales are up 13.0%
Closed Sales are up 26.0%

Homes are typically selling OVER three weeks QUICKER (24 days) than December of last year.

November 2020 - Market Action Report - Portland, OR

12/14/2020

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of November 2020. Click on the image below to see the full seven page detailed report.

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) fell further to 1.0 months, the lowest in RMLS record.

The year-to-date median sales price is continuing to rise UP 10.1% over this same period last year at $438,000.

November 2020 vs October 2020
New Listings are down 36.3%
Pending Sales are down 20.1%
Closed Sales are down 13.0%

November 2020 vs November 2019
New Listings are up 5.7%
Pending Sales are up 12.4%
Closed Sales are up 25.3%

Homes are typically selling nearly three weeks quicker than November of last year.

October 2020 - Market Action Report - Portland, OR

11/13/2020

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of October 2020. Click on the image below to see the full seven page detailed report.

Home inventory remained extremely low at 1.1 months. This is 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.

The year-to-date median sales price is continuing to rise UP 6.1% over this same period last year at $433,500.

October 2020 vs September 2020
New Listings are up 7.7%
Pending Sales are up 1.5%
Closed Sales are down 3.0%

October 2020 vs October 2019
New Listings are up 14.7%
Pending Sales are up 24.2%
Closed Sales are up 21.9%

Homes are typically selling more than two weeks quicker than October of last year.

September 2020 - Market Action Report - Portland, OR

10/12/2020

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of September 2020. Click on the image below to see the full seven page detailed report.

Home inventory remains extremely low at 1.1 months. This is the length of time that it would take to run out of houses to sell if we continue selling at the current level without listing additional homes.

The year-to-date median sales price is UP 5.7% over this same period last year at $433,500.

September 2020 vs August 2020
New Listings are down 16.0%
Pending Sales are down 14.7%
Closed Sales are up 3.2%

September 2020 vs September 2019
New Listings are down 5.9%
Pending Sales are up 17.3%
Closed Sales are up 36.8%

Homes are typically selling two weeks quicker than September last year.

August 2020 - Market Action Report - Portland, OR

9/18/2020

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of August 2020. Click on the image below to see the full seven page detailed report.

Home inventory remains very low at 1.3 months. This is the length of time that it would take to run out of houses to sell if we continue selling at the current level without listing additional homes.

The year-to-date median sales price is UP 4.9% over this same period last year at $430,000.

August 2020 vs July 2020
New Listings are down 8.3%
Pending Sales are up 1.1%
Closed Sales are down 7.1%

August 2020 vs August 2019
New Listings are up 3.4%
Pending Sales are up 26.2%
Closed Sales are up 8.5%
Homes are typically selling in week quicker than August last year.

July 2020 - Market Action Report - Portland, OR

8/12/2020

Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of July 2020. Click on the image below to see the full seven page detailed report.

Home inventory dropped again to 1.2 months, the lowest level of active listings vs closed sales since December 2015.

The year-to-date median sales price is UP 4.5% at $426,500, over this same period last year.

July 2020 vs June 2020
New Listings are up 15.8%
Pending Sales are up 0.1%
Closed Sales are up 25.2%

July 2020 vs July 2019
New Listings are up 6.8%
Pending Sales are up 21.9%
Closed Sales are up 15.2%

Homes are typically selling in one day quicker than this period last year.