It’s more of the same this month. We have rising prices and falling inventory. The main culprit for rising prices is the lack of inventory. We currently have about 2000 less listings than we had the previous last two years but 500 more pending homes than the previous two years. The inventory has dropped to 1.7 months which means at the current pace of sales, if no new listings came on the market, all of the homes would be sold in 1.7 months. This creates a Continue reading →
This graph explains why the market is so crazy. Spring is when everyone starts to think of buying and the inventory is not there to support the needs of all of those buyers. Get the full report here April 2015 Portland Real Estate Report
Local real estate is off and running. For properties in good neighborhoods we are currently seeing 5 – 15 offers on homes. Up to 30 offers aren’t unheard of. The previous two years at this time of year saw a run of high activity. Two years ago it was hot, dropped off a bit, and this year it is even hotter. This isn’t a great market unless you are someone that is unloading extra properties or moving out of the area. If you are selling Continue reading →
This market is going to get crazy. We have more new listings than in the previous two years but we have about 1500 less listed homes overall. Interest rates are staying right around the same area and we are seeing many multiple offers on new listings. Open Houses are happening on days besides Sunday’s to get as many people as possible into a house to drum up multiple offers. These are all things that happen in mid-Spring. Hold on as this could market has signs Continue reading →
November 2014 Portland Metro Real Estate Report Inventory has been dropping since September and steadily rising since the beginning of the year which is typical. Low interest rates, low gas prices, and higher confidence leads me to expect January to be a busy market. Prices have really done a good job of recovering for the last few years. If you were lucky enough to have purchased in the last two year you got a good deal.
Read all of the data here: October 2014 Portland Metro Real Estate Report Everything is up. New listings are up. New Pending listings are up, and so are Solds. And prices are up too by about 7.5%. The only thing that is down is relative inventory. We have more sales than listed homes leading us to the lowest stretch of inventory in quite a while. This is great news for sellers and makes life a bit more difficult for buyers. Though anyone selling during the Continue reading →
I will get used to the microphone and not so much heavy breathing. 🙂 Here is the full PDF to the Portland Metro Area 2011 Market Action
Many people wondered, or predicted, that the tax credit would just steal sales away from the future. That may very well have been the case though we can only hypothesize what would have happened if we didn’t have the tax credit, well, unless you are a politician. I wasn’t a fan of the original tax credit and, besides the fraud, it looks like it didn’t spur a lot of sales that wouldn’t have happened anyway. I really wasn’t a fan of the extension either. With Continue reading →
Screencasts and videos online Activity really jumped in March which is nice. We will see if it is the bump from the tax credit ending in a couple of weeks. Watch the video and then click on the pdf to see all of the numbers. Here is the full Portland Metro Area March 2010 Market Action.
The government has extended the tax credit in length and depth. It will go until May 1, 2010 and there is an added credit of $6500 for anyone but still $8,000 from new buyers. So where do we stand now in regards to closed sales? In August 2009 we had 1841 closed sales in the Portland Metro Area. August Closed Sales 2008 1,770 2007 2,554 2006 2,939 2005 3,690 2004 3,062 2003 2,982 2002 2,369 2001 2,507 I guess we should be around 2,200 -2,500 Continue reading →