Portland Real Estate Market Update for January 2019

By
Real Estate Agent with Keller Williams Realty Professionals OREA# 201211562

 

Portland Real Estate Market Update for January 2019

 

During the last five months of 2018, the Portland market experienced a downshift. The pace of price increases had steadily outpaced increases in income, interest rates moved higher, stock market volatiliy created unsettling headlines, and the US government shut down. Clearly, buyers responded last fall with a bit of caution.

 

Where's the Portland real estate market headed? Inventory levels have increased, offering buyers a wider selection. Days on market have risen, and sellers must account for the new dynamics by preparing and pricing accordingly. The jump in Jan '19 pendings sales over Dec '18 reveals the spring market may be stronger than expected, and interest rates are at their lowest level in 10 months. 

 

The change from a 'white hot' to a more balanced market is well underway. At 2.5 months supply, it's still tilted toward sellers, but buyers have more sway now. Prices will continue to rise in 2019, though at a slower pace. 

 

Portland Real Estate


"The Portland area saw an uptick of new listings to begin the year this January. There were 3,048 new listings, a 22.6% increase over January 2018 (2,486) and more than double the 1,255 new listings offered last month in December 2018. The prior January that had more listings was in 2011, when 3,128 were offered.


Pending sales, at 2,045, decreased 11.5% from January 2018 (2,311) but surged 27.9% ahead of the 1,599 offers that were accepted last month in December 2018.


Closed sales, at 1,451, ended 10.9% cooler than last year in January 2018 (1,628) and 21.4% cooler than last month in December 2018 (1,846).


Inventory rose to 3.3 months in January, with total market time rising to 76 days."

 

Portland Real Estate

 

Portland Real Estate

 

Thanks for reading Portland Real Estate Market Update for January 2019

 


 

Disover How Much Your Home Could Sell For... 

go to: http://www.fastfreehomevaluation.com/ 

c: 503-680-9390 / john@johnvanhogen.com


 

John Van Hogen - Principal Broker Oregon / Broker Washington

Keller Williams Realty Professionals   

Oregon office - 9755 SW Barnes Rd #560 Portland OR 97225

Washington office: 2211 E Mill Plain Blvd #302 Vancouver WA 98661 

Each Office Independently Owned & Operated - 503.546.9955

 

 

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Rainmaker
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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted. Have a great rest of the weekend!

Feb 17, 2019 03:37 PM #1
Rainmaker
918,029
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good evening 

Thank you for sharing your information with us John Van Hogen (503) 680-9390 

Have a great night.

February 17, 2019. 

Feb 17, 2019 03:40 PM #2
Rainmaker
1,106,011
Joyce Marsh
JOYCE MARSH REAL ESTATE COMPANY - Daytona Beach, FL
Million Dollar Guild, Luxury, CLHMS, CNE, SRES

We like to stay on top of current market trends all around the country. Thanks for sharing your updated market snapshot. 

Feb 17, 2019 04:55 PM #3
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John Van Hogen

Serving Sellers / Buyers / Investors 503-680-9390
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