Portland-Metro Market Report
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Portland-Metro Market Report- 1/7/2021
I think there might have only been 6 days in this last week. Time’s flying. Did you make any New Years’ resolutions? If you did, I hope you accomplish them! I’m a big to-do-list person. I’m going to expand and start adding areas outside of work on those lists. Family, friends, and health.
The price increase that we’ve had over the past several months has been largely due to low inventory and low mortgage rates. As long as inventory stays as low as it is, I think that kind of price increase could continue… but when the market comes back and inventory rises, I think that number will re-adjust and drop. Especially if the people getting in the market are selling their properties because they need the money, as a result of the pandemic/lockdowns, and are willing to take less. I thought that would have been more of a trend by now. I don’t know how this pandemic could be good for the market long term.
Portland-Metro Market Report- 12/3/2020
We are in another month and the RMLS has released some numbers regarding the November market. I hope I don’t bore you with these graphs. The more I look at them, the more I see an obvious pattern. It would be thought-provoking to have a psychologist break down why they think the market has responded the way it has, over time and through different “hectic” societal events. We know inventory plays a huge role, and often during these times, people wait to sell their properties. It has felt like the recent “tension” in general has played a role in properties on average selling faster and at a higher price. I’ve felt it going back and forth with buyers. I think the better we can understand psychology, the better we can predict/prepare for the future.
Portland-Metro Market Report- 11/5/2020
The RMLS will put out October’s full report here in a few days. More on that next week. From what I can see sales in October are still up considerably from the year earlier, with many counties still seeing a large price increase as well.
During the pandemic, prices have steadily risen, much like they did leading up to the 2016 election. October 2016 hit a high of 20% increase compared to the previous year/month. I had guessed we may get up to the same price increase that we saw in 2016 at 20% in October, but we fell short some 8%. Prices still got up to 12.51% increase which is great.
Portland-Metro Market Report- 10/3/2020
It’s the first day of October, how are you? I hope you’ve been well. Our weather has been pretty nice, I’m happy about that. A good Portland fall is the best! The change of seasons motivating. Time to start new projects. What are you working on? Let me know if you need anything. !
Adjacent to the Plaza, you will find the Palace of the Governors. Built by the Spanish as a government building in 1610, the Palace remains the country’s oldest continuously occupied public building. Exhibits chronicle the history of Santa Fe as well as New Mexico and the region.
Portland-Metro Market Report- 9/3/2020
Over the past few months, I have seen a significant increase in activity on the land that I have listed and the numbers are reflecting. Particularly with out of state buyers looking to build. Despite everything that has transpired over the past few months, Portland is still looking like a desirable place to relocate to, but not as close to the city center. It does seem like people want to be removed from downtown, but where it is still accessible. You can see in circle #3 both pending, listed, and sold units on the rise.
Portland-Metro Market Report- 8/4/2020
Good morning neighbor,
How are you? What do you got going on today? It’s looking a little cloudy out there. I’m seeing rain. That’s fine with me, I’m staying in today. I have some paperwork stuff to catch up on. What are you working on? Let me know if there is anything I can help you with.
I hope you’re staying active getting out as much as you can (safely). I’d love to hear what you’ve been up to. I got my bike tire fixed and have been riding more. I’m usually just worried about getting hit by a car but now I’m looking out for potholes in the road. The last one I hit almost threw me off my bike. I’m finding safe routes now. Do you ride? Come join! Maybe you don’t ride but want to get out and move? I’ve got two dogs and we go on big walks every day. We would love for you to join!
Portland-Metro Market Report- 7/4/2020
Both total homes listed and total sales are up in the Portland-Metropolitan area compared to last month, giving more hope for a stronger recovery of the Real Estate market.
May-June active listing are up to 968 (+175) and total sales 1,447 (+236). I was worried sales would continue to drop in June. May was the worst month we’ve had in the Real Estate market since the pandemic. In May we had 1,272 active listings and 732 sales, compared to May 2019 we had 2029 active listings and 1,223 sales.
Portland-Metro Market Report- 6/4/2020
The RMLS released May’s market stats. Active listings rose from April-May 2020 from 966-1,088, +122. Sales dropped from 694-604, -90 units. Looking back a year earlier in May 2019 there were 1,758 active listings and 1,033 units sold. Both up +200 from the previous month.
The Real Estate market was and is still doing well-considering everything and I had hoped the COVID dilemma would wind down faster, boosting us closer to last year’s numbers. Over the past few weeks, I’ve been reevaluating that thought. I underestimated how long the shutdowns would last and also how much our behavior long term could change. I’m optimistic. You have to be in this profession.
Portland-Metro Market Report- 5/7/2020
The market is still active. I personally felt a lull from mid-March to some time through April until things picked back up. I’ve heard something similar from several Relators. Last week I siad we’d know more after May 1st when the RMLS releases April’s numbers, and I stated “I am very interested in how many units were sold in the month of April. I imagine the number of active listings takes the biggest hit. I have a feeling the number of units sold does not take as big of a dip.” It seems that predictions has come true.
Portland-Metro Market Report- 4/2/2020
The median home value in Portland is $462,387. The median list price per square foot in Portland is $288. The median price of homes currently listed in Portland is $449,950 while the median price of homes that sold is $436,100. March 2019 median home sale value was $427,000, increasing $9,100 over the past year.
I’m going to continue to stay positive as things move forward. I will keep a sharp eye on new developments, informing everyone along the way. Hopefully, we not only manage this crisis the best we can, but good comes from this. I’m hopeful!
Portland-Metro Market Report- 3/5/2020
The median home value in Portland is $455,753. Portland home values have declined -0.1% over the past year. The median list price per square foot in Portland is $288, which is higher than the Portland-Vancouver-Hillsboro Metro average of $232. The median price of homes currently listed in Portland is $449,950 while the median price of homes that sold is $434,600. The median rent price in Portland is $1,975, which is higher than the Portland-Vancouver-Hillsboro Metro median of $1,895.