Kelly's Portland Metro Market Review

 September’s Months of Inventory for the Portland Metro Markets

October’s Months of Inventory for the Portland Metro Markets

The months of inventory (MOI) for the Portland Metro markets, including Washington, Multnomah and Yamhill County, continue to remain relatively steady from August to October. While the MOI across all price categories has dropped slightly since last month, the decreased MOI isn’t reflective of increased home sales. Instead, the slight decrease in MOI seen between September and October reflects the decrease in active homes on the market as sellers begin to withdrawal their listings through the winter months and holidays.

While most of our listings are beginning to see a decrease in showings, the buyers that remain active this time of year are typically more serious buyers that need to make a purchase. With less inventory on the market to compete, this time of year also brings more showings and renewed interest to listings that may have been on the market longer without receiving offers.

Sellers should make sure each showing counts this time of year to net the serious buyers prior to the spring housing rush, when the market will be flushed with new listings. To prepare homes for showings during the winter months, sellers need to make sure the interior is bright, welcoming and warm to invite potential buyers to remain inside and appreciate the home’s details. It is especially important this time of year to have a well lit home and to make sure any leaks have been properly patched. For rural properties and land listings, make sure accessibility is maintained through winter storms and that any drainage issues are addressed so potential buyers aren’t deterred from fully viewing the property. Other strategies to close your listing before spring include open houses, small price drops or changes in marketing material. Contact us to discuss whether your listing would benefit from an open house or if other marketing strategies may be beneficial.