By Sofia Gallamore, March 7, 2025
Much of my value as a real estate professional is delivered through coaching and educating my clients. It brings me joy to witness my clients’ confidence blossom as they gain the tools and knowledge to navigate the intricacies of real estate. Below, I’ve outlined and defined the basic elements of understanding real estate market activity and its patterns.
1. Median vs. Average Home Price
- Median Price: The “middle value” of all homes sold (half sold for more, half for less). Typically, this is a better indicator of the typical home price since it’s not skewed by fixers or overpriced homes.
- Average Price: The total sales price of all homes divided by the number of sales. This can be misleading if there are a few very high or low sales.
2. Days on Market (DOM)
- The average number of days a home stays on the market before going under contract (AKA the seller accepts an offer from a buyer).
- Lower DOM = Homes are selling quickly (stronger seller’s market).
- Higher DOM = Homes are sitting longer, possibly indicating a buyer’s market.
3. Months of Inventory (MOI)
- Measures how long it would take to sell all the homes currently on the market if no new homes were listed.
- Less than 3 months = Seller’s market (low inventory, high demand).
- 3-6 months = Balanced market.
- Over 6 months = Buyer’s market (more supply than demand).
4. List-to-Sale Price Ratio
- The percentage of the asking price that homes actually sell for.
- Above 100%: Homes are selling for more than asking (bidding wars, competitive market).
- Below 100%: Homes are selling for less than asking (buyers have more negotiating power).
5. Price Per Square Foot
- Useful for comparing similar properties in the same area.
- A rising price per square foot suggests increasing demand or higher-end homes being sold.
6. Pending Sales vs. Closed Sales
- Pending Sales: Homes under contract but not yet sold (a leading indicator of future closings).
- Closed Sales: Homes that have officially sold (represents past market conditions).
- A decline in pending sales may indicate a slowdown, while an increase suggests a hot market.
7. New Listings vs. Active Listings
- New Listings: Number of homes recently listed for sale (homes are most often listed on Thursdays and Fridays, so they are fresh to the market for open houses and touring on the weekend)
- Active Listings: Total number of homes currently on the market.
- If new listings increase but homes aren’t selling, inventory builds up, signaling a possible shift to a buyer’s market.
8. Interest Rates & Their Impact
- When interest rates go up, buying power decreases, often slowing home sales. This has been the climate we have been in for the past few years. We typically see a swing toward buyers being able to negotiate more and secure homes at a lower price due to less buyer competition.
- When rates go down, more buyers enter the market, increasing competition. For those “waiting on the sidelines” for rates to go down, are likely to find increased competition of other buyers waiting to do the same, and an increase in home prices to offset the lower rates.
9. Market Trends & Seasonality
- Spring and summer generally see more listings and higher prices.
- Fall and winter often bring fewer buyers, making it a better time for “deals” and buyer opportunities. I always tell my buyers that if the seller is listing their home over the holidays, then they NEED to sell. Nobody likes moving during the holiday season!
- Year-over-year trends are more reliable than month-to-month fluctuations.
10. Inventory Turnover
- When evaluating neighborhoods, take a look at how long people tend to live in their homes before selling and, in general, how many homes are currently listed for sale
- Areas with high turnover may indicate nuanced elements of the area that are not immediately apartment to some buyers (freeway noise, packed on-street parking when getting home from work, home is on a flight path, etc).
- Neighborhoods with lower turnover tend to have lower DOM when homes sell, as there is less competition and likely a pent-up buyer demand for homes in that area
I hope you gained some insight from these points and have a clearer understanding of the nuances of real estate market data. If you have any questions about Portland’s current market and what opportunities are out there, please reach out! I’m happy to have a zero-pressure exploratory conversation to see what makes sense for you (even if that means staying exactly where you are!).
Your friend & realtor,
Sofi
Sofia Gallamore
Broker | OR & WA
SOFIA GALLAMORE
Licensed Broker in Oregon & Washington
Buyers Agent
As someone who loves community, good food, and time spent outdoors, I’m proud to help others find their place here in the Pacific Northwest. I specialize in working with first-time home buyers, those looking to navigate purchasing a home while needing to sell their current, and folks exploring creative real estate investment avenues—like rentals and other income-generating properties. For my clients, I bring a deep understanding of the Portland market, and click particularly well with those who may appreciate a patient, data-driven, low-pressure approach.
I attended Milwaukie High School (Mustang bred!) and stayed local to attend Oregon Health & Science University-Portland State University’s School of Public Health. There, I attended the Honors College and obtained my B.S. in Applied Health and Fitness. I loved my studies at university (and still incredibly passionate about all things health & wellness), but my part-time job as a leasing agent opened my eyes to the world of Property Management and Real Estate — and I was hooked. From there, I spent a few years in property management and then obtained my real estate license. Having grown up in Milwaukie, Oregon, and now living in Portland, I bring local expertise and a love for this area to every interaction.
With a blend of real estate know-how, Airbnb/Property Management experience, and a genuine passion for helping others, I’m excited to guide you through your Portland real estate journey. When I'm not meeting with clients, you’ll find me exploring the outdoors, caring over my houseplants, or at the gym (my primary outlet for stress!).
At Living Room Realty, I’m fortunate to work alongside a team of quality agents who reflect the best the industry has to offer. With the support of decades of committed experience, the clients we represent feel supported, educated, and advocated for. We are here to listen, answer questions, and provide honest, thoughtful guidance—whether you're buying your first home, making a smart investment, or simply exploring your options.
The amazing people that make up my team:
Jessica LeDoux | Lead Buyers Agent | Broker, Licensed in OR | jessica@livingroomre.com Jenessa VanZutphen | Buyer Operations Manager | Broker, Licensed in OR | jenessa@livingroomre.com Kim Parmon | Lead Listing Agent | Principal Broker, Licensed in OR | kim@livingroomre.com Andee Zeigler | Listing Operations Manager | Principal Broker, Licensed in OR | andee@livingroomre.com Karim Alaeddine | Operations | Principal Broker Licensed in OR | karim@livingroomre.com- T: 503-757-7737
- sofi@livingroomre.com
