Blog Stories October 2019 Portland Real Estate Market Report

October 2019 Portland Real Estate Market Report

By Living Room Realty, October 9, 2019

September 2019 is a Neutral market*

Here’s what I have to say…

The numbers say it is a “neutral” market and no longer a seller’s market. My experience is saying that it is not any different than it has been for the past 4 or 5 months – a more balanced market that may fluctuate between being neutral and slightly leaning in the seller’s favor. What does this mean for you? Negotiation is back in force. Buyers are paying market value for homes (good for sellers) but sellers also need to make sure their home for sale is in its absolute best presentation state and priced correctly (good for buyers). 

If you’re a seller wondering what that price range is for your home, let me know and I will send you data, not zata. That’s an estimate as opposed to a zestimate. For buyers it means that you have room to ask for some repairs and, with your agent, find a win-win solution to issues that come up during a transaction, not just feel obligated to accept a sinkhole or that the house is built on a 👻 haunted ancient burial ground (Carol Anne!) like the old days. Indeed, we have compromise happening and it’s a better and more sustainable market for everyone.

Home For Sale in September 2019: 2866 units.

• Up 0.1% compared to last month
• Down 8.8% compared to last year

Home Closed in September 2019: 884 units.

• Down 21.1% compared to last month
• Down 3.6% compared to last year

Home Placed under Contract in September 2019: 1097 units.

• Up 6.5% compared to last month
• Up 21.9% compared to last year

*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales

 

CLICK HERE FOR THE FULL REPORT!

Living Room Realty

...
Read More
  • T: 503-719-5588
  • welcome@livingroomre.com

You might also enjoy

Just Sold: Buyer’s Dream Home in Mt Tabor/Montavilla

Yascha Noonberg

7229 SE YAMHILL ST Portland, OR 97215 Where city energy and nature’s beauty meet, you’ll find...

Just Listed – Collins View Ranch

Alyssa Starelli

Why spend your hard earned funds and limited energy on the boring stuff, when you could...

Should I Use the Same Realtor to Buy and Sell a House?

Jon Gould-Knight

TL;DR Yes, you can absolutely use the same real estate agent to help you sell your...

Home Warranties Explained: Pros, Cons, and Everything You Need to Know

Will Sing

When buying a home, one of the considerations you might encounter is whether to invest in...