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!
Portland Metro News
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