Portland-Metro Market Report – 5/7/2020

Weekly Update

5/7/2020

More time, more attention, the best outcome.

Hello neighbors,

How are you doing? Still moving I hope. You have to. If I sit for too long my back hurts. I’ve had to increase my morning stretching time that’s for sure. The cold showers have helped. What are you doing to stay active, I’d love to hear it.

It looks like we may be hanging out for a bit longer. What do you need? There has to be something. If anything comes up you’re trying to problem-solve, give me a call, I’m always around… unless Idaho opens up then I may be taking a road trip to Sun Valley. Sounds fun!

If only I could get away from work. Let me know what you need. I’d love to help.

Best Regards,
Evan Zener

Now that April’s numbers are in

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.

 

April 2020 RMLS Market Report

3 Month Report
In March there were 1212 active listings on the market and 762 properties closed. In April we had 946 active listings and 675 properties closed. That is -266 units on the market and -87 properties sold from March to April 2020. It looks like more buyers have been in the market than sellers. It felt like that was happening.

 

April of 2019
Looking back at April of 2019 there were 1539 active listings and 876 properties sold. Coming out to 593 more properties listed and 201 more properties closed in April of 2019. Do the math and that comes out to %56.92 of the number of properties listed were sold in April of 2019. Fast forward to April 2020 %71.35 of the number of properties listed were sold. Could this year have been a hotter Real Estate season?

 

3 Year Report

Here is a three-year bar graph showing units sold, listed, and pending. I’m not going to get into specific numbers on this one, but it is a good visual. It looks like the market is weathering the storm better than what could have been imagined. There are other indicators to go gauge the current and future state of the market and we’ll go over more of those next week.

I hear the number of building permits being pulled has plummetted. That is sure to have a rippling effect into the future.

 

Coronavirus’ Impacts On Real Estate: Why You Need To Think Short-Term And Longer- by Forbes
View Article

Past Emails:

4/30/2020- ttps://mailchi.mp/f5be46f61951/evan-zener-portland-realtor-report-

4/23/2020- https://us3.admin.mailchimp.com/campaigns/show?id=4290829

4/16/2020- https://mailchi.mp/48b33ed696c5/evan-zener-portland-realtor-report-4280877

 

Thanks for stopping by!

Hey, thanks for checking out this week’s Portland-Metro Market Report. Please let me know if there is anything I can do for you! Spring is here!

For more information, you can check out my website at www.strongedgerealty.com or give me a call anytime at (971)285-0847, lunch is on me!

Evan Zener, Licensed Realtor
Strong|Edge Team with eXp Realty LLC evan@strongedgerealty.com  (971)285-0847

 

 

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