By Living Room Realty, February 11, 2020
February 2020 Portland Real Estate Market Report
Are you a buyer who feels like there are no houses to buy? Or when you find one you want you are up against 10 competing offers when you go for it? Well, here is why (check out that chart!) – we have the lowest level of homes on the market in a couple of years.
But, do not despair! My phone is ringing with sellers working to get their homes ready for sale in the Spring. I expect a large increase of great homes coming on in the next few months. It is the calm before the storm!
Need to buy now? Let’s talk strategy. We frequently win multiple offer situations for our buyers while NOT being the highest offer. SELLERS! Wondering if it is a good time to sell? Once again, just look at this chart! Your competition is light right now. Get it ready, get it on, and we will bring buyers!
For Sale vs. Sold vs. Pended
January 2020 is a Seller’s market* Home For Sale in January 2020: 1459 units. • Down 9.4% compared to last month • Down 27.5% compared to last year Home Closed in January 2020: 635 units. • Down 33.6% compared to last month • Up 0.2% compared to last year Home Placed under Contract in January 2020: 888 units. • Up 28.9% compared to last month • Up 8.8% 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
FOR THE FULL MARKET REPORT, CLICK HERE!
