By Living Room Realty, 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
