Blog Stories July 2019 Portland Market Report

July 2019 Portland Market Report

By Ross Seligman, July 15, 2019

The patterns are what I find the most interesting about these market reports.  Look below how similar the data pattern of pending sales and inventory are from April – July of 2018 and April – July of 2019. The same general shape with a peak in June for pending sales and then a slight dip. The same for inventory with it increasing month over month during that time period. 

What is different though? It is still a seller’s market with tons of demand and not as much supply. But the gap isn’t as huge as last year. Same shape and pattern but with a bit more inventory than the year previously. This is why we still find sellers getting a good price for their homes but buyers not having as tough a time as they were a few years ago. Portland is still 🔥hot hot hot 🔥 but it is more balanced than before and more fun for us agents who can still negotiate on behalf of a buyer to get them a great home without offering naming rights to their first born or free pizza for life. Still a window of opportunity for both sides!

June 2019 is a Seller’s market*

Home For Sale in June 2019: 2850 units.
•Up 6.3% compared to last month
•Up 8.2% compared to last year

Home Closed in June 2019: 1075 units.
•Down 12.5% compared to last month
•Down 12.2% compared to last year

Home Placed under Contract in June 2019: 1204 units.
•Down 4% compared to last month
•Up 5.3% 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

Ross Seligman

Principal Broker

Ross Seligman moved to Portland in 1999 after accidentally discovering this oasis of a city in a nationwide desert of strip malls and sprawl. Ross likes to call Portland the "land of opportunity." Why, you ask? Where else can you be a successful real estate broker while simultaneously leading a double life as a musician? That would definitely be a bizarre combination in New Jersey but, in Portland, quite ordinary. In Portland, one expects that their straight-laced accountant is secretly oil painting between Yoga classes. From the moment he arrived in Portland, Ross quickly fell in love with the vibrant energy of the people, gorgeous homes and neighborhoods, and exploding arts scene. Deciding to embrace it all, Ross became an active real estate broker and quickly immersed himself in the city culture. Working with premier Portland boutique company Living Room Realty, Ross is well known for his accessibility, integrity, professionalism, knowledge of the market, and passion for Portland. When he is not busy representing clients or studying market trends, you can find Ross playing music around the city, hiking and camping in the unparalleled beauty of the Pacific NW, and spending as much time with friends and family as possible. Ross Seligman also appeared on Broadway at the Lyceum Theater in NYC as Janis Joplin's guitarist in "A Night With Janis Joplin".
Ross and his "Own It Portland" team are known for their passion for people and real estate. They are enjoying Portland's growth and expansion all while embracing the quirks that make this city so special. Ross and his team can help sell your house for the highest possible price, release you from the unpredictable rental market and secure your dream home as a buyer. They will answer any questions about the Portland real estate market and process, all while making you feel part of a strong team. With hundreds of home sales closed representing buyers and sellers all throughout the Portland Metro Area, Ross and The Own It Portland team have a proven track record of outstanding, top level service and results. Whether it is receiving keys in your hand or top dollar for your home sale, Ross and and his team are the go-to real estate pros for Portland and would love to help you achieve your goals, surpassing expectations every step of the way.
Click here to read more client testimonials
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  • T: 503-862-9075
  • F: 503-961-8224
  • ross@ownitportland.com

Ross Seligman

Principal Broker


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