Past Portland Real Estate Monthly Reports

Portland Real Estate Market Report December 2021

December 17, 2021

The Portland real estate market typically experiences a cooling down in winter every year, and so it has been true in 2021. But exceptionally low inventory is keeping the winter Portland 2021 real estate market, at least slightly, in the seller’s favor. December’s Portland Real Estate Market 2021 Today’s Portland real estate market is defined by price drops, increased market time, low buyer traffic, even lower inventory, and steadily increasing prices – all at the same time. Looking at the chart below, notice over one third of homes on the Portland real estate market have had a recent price drop. Average days on market is much higher than summer or spring (was hovering around 20-30 days) at a whopping 42...

Portland Real Estate Market Update – November 2021

November 12, 2021

It’s no surprise that home prices in Portland have increased over that past 18 months due to the COVID-19 pandemic. Problems with low inventory and buyers wanting to leave urban areas (Portland suburbs prices have risen faster than the city proper’s) or create better work-from-home situations have driven up real estate in the entire metro area. This has also been true across the country. However, according to Forbes.com, home prices are starting to drop nationwide, citing increased inventory and buyer fatigue as causes. More likely though, this is just part of the normal season trends we see in the real estate market both locally and nationally every year. Let’s see how these factors have affected Portland and if we can...

June Home Sales in Portland Real Estate Market Beat Out Past 10 Years

July 23, 2021

If you’ve read this blog at all this year, you know that one of the biggest stories we’ve been following is Portland’s low inventory. Yet if you read the title of this post, you know that home sales are still going through the roof. So how do these two truths not contradict? First, let’s talk about what inventory means. When we quote an inventory number, that number comes from our monthly RMLS reports. It’s calculated by dividing the number of active residential listings at the end of the month by the number of closed sales for that month. So you’re looking at a ratio: when it’s under 1.0, that means more homes sold than came on the market. For June,...

Portland Real Estate Market Report: March 2021

March 12, 2021

We’ve been following the low inventory in the Portland real estate market for a while now. But now that we’re into March – marking a year since the pandemic came into being full tilt – we’re also likely looking at a huge change in inventory on the horizon. We believe that a lot of folks have been holding off on listing their home during Covid-19. On top of that, as unfortunate as it is, foreclosures will likely spike once stays on foreclosing end, which will happen eventually. So while low inventory is one of the biggest Portland real estate market news stories so far in 2021, a wave of new inventory may be the next big story. Let’s take a...

Portland Real Estate Market Update February 2021

February 16, 2021

Portland home prices have been on the rise for the past several years. But we’re not alone. Home prices across the nation were up an average of 10% in 2020, according to the Washington Post and Attom Data Solutions. So how is Portland shaping up? Keep reading to learn how much it costs to buy a home in Portland today and how that’s changed in recent months. Median Sale Prices for Homes in Portland Our most recent RMLS monthly data reveals that the average sale price for a home in the Portland metro area in January 2021 was $514,700. This number is an increase of only $700 over the average price in December 2020. Before we start thinking of it...

November Real Estate Market: Low inventory, more pending

January 2, 2015

The numbers are out for the Portland real estate market this November. How did we do? The RMLS report shows the expected seasonal slowdown, with fewer new listings than in October, as well as a decline in pending and closed sales. The good news is that these numbers are, for the most part, better than they were a year ago in November 2013. Particularly, closed sales were up 6.4% over last year, and pending sales were 14.4% higher! Inventory remains low, as it has all year, and there was no boost in new listings this November to help — in fact, new listings of Portland homes actually decreased 2.7% from last November. Usually, we say low inventory in a real...

Strong August Real Estate Numbers for Portland, U.S.

September 25, 2012

August’s home sales in the Portland area were the strongest in five years, according the Market Action report published by the RMLS last week. Home prices are also on the rise in Portland and across the US, a piece of good news that prompted coverage by the Associated Press and the Oregonian and gave hope to underwater mortgage holders. Does this month indicate that the housing market will soon recover to pre-recession levels? Nobody knows, but a closer look at the numbers will help Portland home buyers and sellers decide what their next steps will be. Last month, 2,311 homes were sold in the Portland metro area, which is a new record since 2007, before the housing market fell. High...