Kelly's Portland Metro Market Review

By
Real Estate Agent with The Kelly Group Real Estate

August’s Months of Inventory for the Portland Metro Markets

Price Category

Active Listings

Pending Listings

Months of Inventory (Active/Pending)

$0 - $199,999

559

491

1.138

$200,000 - $299,999

1201

1647

0.729

$300,000 - $399,999

1158

1107

1.046

$400,000 - $499,999

696

587

1.185

$500,000 - $749,999

964

475

2.029

$750,000 - $999,999

428

122

3.508

$1,000,000 - $1,999,999

317

69

4.594

$2,000,000 & Up

108

10

10.8

TOTAL

5431

4508

1.204

 

September’s Months of Inventory for the Portland Metro Markets

Price Category

Active Listings

Pending Listings

Months of Inventory (Active/Pending)

$0 - $199,999

498

478

1.041

$200,000 - $299,999

1085

1523

0.712

$300,000 - $399,999

1047

1123

0.932

$400,000 - $499,999

637

554

1.149

$500,000 - $749,999

930

490

1.897

$750,000 - $999,999

409

132

3.098

$1,000,000 - $1,999,999

339

46

7.369

$2,000,000 & Up

98

14

7

TOTAL

5043

4360

1.156

 

The months of inventory (MOI) for the Portland Metro markets, including Washington, Multnomah and Yamhill County, have remained relatively steady through August and September as the summer rush of home sales has remained steady through both months. However, the increased MOI in September for homes priced between $1,000,000 and $1,999,999 is representative of reduced buyers in this price range. Typically, through the fall and winter, we forecast an increased MOI across all price ranges as many home buyers postpone moving between school years and the holiday season. Homes priced at $299,999 and below typically see the smallest change in MOI throughout the year as there is a larger pool of potential buyers. While the market will begin to slow down with less showings, pendings and closed listings, the remaining home buyers on the market are typically more serious and will have less active listings to choose from. That means home sellers will be able to net a better sale price this fall and winter than they might otherwise expect several years from now as the national real estate market is forecasted to head for another decline.

 

Posted by

Local, National, Global.

Your Home Marketing Done Right.

Kelly Hagglund, Principal Broker, Licensed in Oregon.

www.TheKellyGroup.com

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