By Living Room Realty, December 12, 2019
The Portland Metro real estate market continues to show positive growth for the month of November 2019!!
Here are a few stats from our local Multiple listing Service..
- Pending sales were up 19.4% compared to November of 2018
- Closed sales rose 2.2% compared to November 2018
- New listings decreased 8.3% compared to November 2018
- The median sale price increased 2.2% to $410,000 from last year
- Average days on market rose slightly to 60 days as compared to last year
- Inventory is at 2.4 months currently which is still indicating a very seller friendly market
- Total year to date closed sales are at 27,374 compared to 27,786 last year
What do all these numbers and stats mean?
For buyers, it means that the housing inventory is very low and you have to be ready to purchase when that new listing comes on the market. Interest rates are still incredibly low right now so when you do find that perfect home you can lock in a great rate for as long as you own the home..
For sellers, it means that there is not a better time to list your home for sale since there is low competition due to less homes on the market. Seasonally speaking, more people will list their homes in the Spring and Summer which will increase inventory and give buyers more to choose from.
For a more in-depth look at your neighborhood feel free to contact me and Ill be happy to assist however I can..
Brandon Buchanan
Principal Broker in Oregon
Living Room Realty
Cell: 503-545-9415
Email: brandonbuchanan@comcast.net
