Portland Westside Real Estate Market Trends June 2019
The Portland Westside Real Estate Market Trends reveal a mixed but steady picture for June 2019.
Cities such as Beaverton, Forest Grove, Hillsboro, and West Linn show price increases that are historically sustainable. Supply levels are still tilted towards home sellers but selection is increasing for home buyers. The price increase in Wilsonville reflects it's convenient location; half-way between Portland and Salem, it's a desirable community for a growing number of commuters.
Over the past few years, home prices moved to far to fast, and we're seeing a resulting adjustment/pull-back in cites such Lake Oswego, Tualatin, and Sherwood. The growing inventory in Lake Oswego is no doubt contributing to softness there, and homes in the higher price points are experiencing softer activity throughout the Metro area generally.
Overall, while months supply and days to sell are moving up, it's still a steady market. The total number of homes in escrow for these ten cities is up 6.1% in June, and closed sales were virtually even at 364 this year vs. 365 last year.
Expect these trends to remain with us for the next few months. Clearly, after the white-hot market in 2017-2018, this is a better enviroment for sustained growth.
Thanks for Reading...Portland Westside Real Estate Market Trends June 2019
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