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August 2019 Portland Real Estate Market Report

August

The market is holding steady from last month: The same relative amount of inventory to demand with the average sold price declining just slightly. Typically August is slower than most of the year as people head to the beach or the forest to enjoy the rest of the summer. Unlike the last few years, my team has seen no decline in activity and are helping people buy and sell. What else is different? We have a massively enhanced ability to negotiate on behalf of our buyers and we LOVE it! ❤️ For years the power was exclusively with the seller but now it is a much more balanced market ⚖️ that is good for both sides. It is still a slight seller’s market but not with a huge imbalance of power.

What does this mean exactly? It means that sellers are getting a great market price ? for their properties but we are getting extensive repair requests ?accepted for our buyers. Everyone is compromising a bit and working hard for a win-win and that is where my team really gets to shine. ✨ Message me with any market questions and let me know how we can help you!

August

July 2019 is a Seller’s market*

Home For Sale in July 2019:2880 units.

  • Up 1.1% compared to last month
  • Up 2.1% compared to last year

Home Closed in July 2019: 1139 units.

  • Up 0.6% compared to last month
  • Up 1.8% compared to last year

Home Placed under Contract in July 2019: 1169 units.

  • Up 3.3% compared to last month
  • Up 4.9% 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

August

July 2019 Average Sold Price per Square Footage is Neutral*
Average Sold Price per Square Footage in July 2019:$255

  • Up 0.8% compared to last month
  • Up 0.8% compared to last month

*Based on 6 month trend – Appreciating/Depreciating/Neutral

August

July 2019 Average Days on Market trend Remains Steady*
Average Days on Market in July 2019: 33

  • Up 13.8% compared to last month
  • Up 13.8% compared to last year

July 2019 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in July 2019: 98%

  • 0% compared to last month
  • 0% compared to last year

*Based on 6 month trend – Rising/Falling/Remains Steady

August

July 2019 Average For Sale Price is Neutral*
Average For Sale Price (in thousand) in July 2019:$624

  • Up 1% compared to last month
  • Up 1% compared to last year

July 2019 Average Sold Price is Neutral*
Average Sold Price (in thousand) in July 2019: $496

  • Down 1.4% compared to last month
  • Up 1.2% compared to last year

*Based on 6 month trend – Appreciating/Depreciating/Neutral

August

July 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in July 2019: 2.5

  • 0% compared to last month
  • 0% 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

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