Portland Real Estate Inventory is Down
The numbers don't lie. I had a sense, as did some of my Portland Buyer clients that there, currently, does not seem to be an abundance of property for sale in the Portland Metro market place. I did a little research, pulled up some numbers, crunched a few years to get a feel . . . and yup . . . the level of real estate inventory on the Portland market is low.
How is the Monthly Inventory Calculated?
"Inventory in Months" is calculated by dividing the Active Listings at the end of the month in question by the number of Closed Sales for that month. A little like an "absorption rate" only this summarizes the level of inventory in the current Portland market.
What Does This Mean?
For Buyers:
- Looking for property is not slim pickings . . . but the level of condition, price and location will mean COMPETITION
- The more "wants / needs" (criteria) you have, the less inventory there will be.
For Sellers:
- Perhaps it's time to put your property on the market. If you have a property in good condition, good location and price it right . . . it will sell!
- Serious Buyers ARE OUT THERE!!
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