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.
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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of August 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.
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of July 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.
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of June 2021. Click on the image below to see the full seven page detailed report.
We listened to a Real Estate webinar recently – Brian Buffini’s Bold Predictions Mid-Year Update – which we found very interesting and thought we’d share some tidbits with you. Also on the webinar was the National Association of Realtors chief economist, Dr. Lawrence Yun.
One of the most asked questions we get from clients is regarding a potential Real Estate Bubble – “Is the market going to crash like it did in 2007-2008?” The consensus from both Brian Buffini and Dr. Yun was no, there isn’t a Real Estate crash coming for several reasons which are listed below (keep in mind these are national stats).
Both Brian Buffini and Dr. Yun believe that housing inventory will increase in the next 6 months or so, due to an increase in new home construction, people that have put off a move because of the COVID pandemic and now decide to sell and a small percentage of owners will need to sell because the foreclosure moratorium will expire. Please give us a call if you'd like to discuss how this affects your real estate goals. 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. 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.
Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of April 2021. Click on the image below to see the full seven page detailed report.
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.
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.
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