Blog Stories March 2020 Portland Real Estate Market Report

March 2020 Portland Real Estate Market Report

By Ross Seligman, March 10, 2020

March 2020 Portland Real Estate Market Report

I’m ready for the Spring onslaught of new homes for sale! Hello? WHERE ARE YOU? Sellers, you want to get your home on the market in the next three months. Look at this chart – there are no homes for sale. Buyers are out in force, especially with the lowest interest rates ever thanks to a perfect storm of nightmarish current events. Hear the whispering: If you sell it they will come.

Buyers, we will fight for you. It’s hard out there but we are relentless. We love to strategize and have wonderful relationships with our colleagues in the industry. We are always looking for the win/win and the agents we’re submitting offers to know it. If the deal can get done, we will get you there. We just won a multiple offer situation of 9 offers yesterday. You need a house? My team won’t rest until you have keys in your hand. I don’t mean for this to sound like an ad. I’m just passionate about the fight, the strategy, and seeing my clients thrive and achieve their dream. Plus, LOOK AT THIS CHART! You need passion or else you won’t get a home in this environment. Inventory is the lowest in years. BUT…. so are interest rates. It is the most wonderfully difficult, excellent, frustrating home-buying market in ages! Come talk to us so we can strategize!

For Sale vs. Sold vs. Pended

February 2020 is a Seller’s market*

Home For Sale in February 2020: 1424 units.
• Down 2.4% compared to last month
• Down 25.1% compared to last year

Home Closed in February 2020: 784 units.
• Up 16% compared to last month
• Up 12.5% compared to last year

Home Placed under Contract in February 2020: 986 units.
• Up 15.5% compared to last month
• Up 19.4% 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 MARKET 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  
Read More
  • T: 503-862-9075
  • F: 503-961-8224
  • ross@ownitportland.com

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