Blog Stories September 2019 Portland Real Estate Market Report

September 2019 Portland Real Estate Market Report

By Ross Seligman, September 9, 2019

September 2019 Portland Real Estate Market Report

Happy end of summer and welcome to False Fall! 🍂 For those of you reading this from out of state planning to move here, False Fall is the 9th season (out of Oregon’s 11 seasons). Yes, you only have 4 where you are from but we have 11. False Fall is followed by Second Summer which lasts exactly one week and followed by Actual Fall which is season #10. Welcome to our city.

Meanwhile, the overall Portland market is still technically a seller’s market but not a raging hot seller’s market. It is still bouncing around with more balance which is still mutually beneficial to buyers and sellers. Although we haven’t seen the record appreciation we did in years past, sellers are getting a great price for their homes (when priced correctly, that is. Call me to discuss what that means for you if you are a seller) and buyers are buying wonderful homes without having to compose love songs to the seller’s home. Wait, scratch that. We had that happen this month. 🎵See this blog post.

One thing I see in the chart is that we are in a similar place to last year at this time although the market is a touch cooler (a tad more supply than last year with similar demand). With record low interest rates, buyers have historic buying power 💪🏼 so it’s a great time to get your keys! 🔑 Call me and let’s talk.

August 2019 is a Seller’s market*

Home For Sale in August 2019: 2862 units.
•Down 0.6% compared to last month
•Down 3.4% compared to last year

Home Closed in August 2019: 1069 units.
•Down 10% compared to last month
•Down 8.4% compared to last year

Home Placed under Contract in August 2019: 1082 units.
•Down 3.7% compared to last month
•Up 8% 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 TO SEE THE FULL REPORT

Ross Seligman

Principal Broker | OR

He/Him

Team Members

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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