Tag Archives: PDX Market Update

PDX March 2016 Market Update

Overview of Portland Market:

Intro

I have uploaded the Monthly Market Snapshot to my website.

Sellers: Find out the value of your home in today’s market; contact me today for a FREE Home Valuation.

Buyers: Connect with me for a FREE Consult about this market; ask about how you can make your offer stand out!

Mobile App: Monitor the market directly from your smartphone. This GPS-based mobile app is one of the best in the market!

Key Data*

Market update

In-Depth Data*

  • Closings and Accepted Offers: It was the strongest February in the area since 1997.

Closed Sales

  • New Listings: February new listings rose 15% compared to January.

New Listings

  • Active Listings: There were 3,226 active residential listings in the Portland metro area at the end of February 2016.

Active res listings

  • Days On Market: Total Days on Market is now at 60 days, up 3 days from January.

DOM

  • Average Sale Price: The average sale price of a home in the area has increased by 7.1% year-over-year.Sale Price
  • Inventory: The current home inventory is at 1.8 months! A balanced market offers a 5 to 6 months inventory. This is what we refer to as a seller’s market.

Inventory

*Source: RMLS Market Action (February 2016 Reporting Period; published in March 2016)

 

Marie Conser Broker John L Scott Sunset CorridorMy name is Marie Conser and I help people buy, sell and invest in real estate in the Portland Metro area. I specialize in the residential real estate market in West Portland, particularly: Cedar Mill, Oak Hills, Bethany, Rock Creek, Forest Heights, Beaverton and Hillsboro. Whether buying or selling, be it your first home, your last home, or building your investment portfolio, I can’t wait to help you achieve your goals.
Call, text 503-459-2726 or email me at marieconser@johnlscott.com today to start making your real estate dreams reality!

#PdxRealEstate #PdxRealtor #Whatsmyhouseworth #SellNow #HireaPro

 

 

How Fast Will My House Sell?

A couple of days ago, I shared on my Facebook page some local and national statistics about how many days it takes for a house to sell in this current market.

I would like to take this opportunity to clarify one thing: one of the driving factor behind this data is the amount of inventory available to the buyers.  This is determined by the supply of homes expressed in month(s), i.e. the length of time it would take to sell all the homes currently offered for sale IF no new listing is added to the mix.

Note that a 1 to 2 month supply is considered a “shortage”, a 3 to 4 month supply is considered “low” and a 5 to 6 month supply is “healthy”.

Here is the state of the market per price point:

Up to $249,999: 1.1 month supply

$250,000-$ 349,999: 0.8 month supply

$350,000-$499,999: 1.0 month supply

$500,000-$749,999: 2.8 month supply

$750,000-$999,999: 9.5 month supply

$1,000,000+: 9.8 month supply

Final note: With 98% of the sales occurring under the $750,000 price point, 56% of the homes sell on average in the first 30 days.

 

Marie Conser Broker John L Scott Sunset CorridorMy name is Marie Conser and I help people buy, sell and invest in real estate in the Portland Metro area. I specialize in the residential real estate market in West Portland, particularly: Cedar Mill, Oak Hills, Bethany, Rock Creek, Forest Heights and Beaverton. Whether buying or selling, be it your first home, your last home, or building your investment portfolio, I can’t wait to help you achieve your goals.
Call, text 503-459-2726 or email me at marieconser@johnlscott.com today to start making your real estate dreams reality!

#PdxRealEstate #PdxRealtor #Whatsmyhouseworth #SellNow #Hireapro