Inventory in Months* 2013 2014 2015 January 4.7 4.1 3.4 February 4.5 3.9 3.0 March 3.2 3.1 1.9 April 3.1 2.8 1.8 May 2.5 2.8 1.7 June 2.9 2.8 1.6 July 2.8 2.9 1.7 August 3.1 3.0 September 3.7 3.1 October 3.4 2.8 November 3.7 3.2 December 3.2 2.3
The latest real estate numbers are out! We have ticked up 1/10th of month in inventory. We are sitting at 1.7 months of inventory. It is still a VERY strong sellers’ market. Remember, 6 months of inventory is considered a balanced market. Under 6 months is considered a “Seller’s” market. Above 6 months of inventory is considered a “Buyers” market. We have been in a sellers’ market for well over 3 years.
The average price change in the Portland-Metro areas is +6.3%. The median price change is even higher at +7.2%. The average time on the market has changed slightly. The average days on the market for ALL Portland-Metro areas is 45 days. Just up from 44 days the prior month.
We generally will see a marketed slowdown in the real estate market in about 2 weeks, just as the kids are starting to go back to school. The “cooling period” or slowdown will last for about 3 weeks to a month and then the market usually will bounce back up and will level off again. Staying steady until spring. All locations and neighborhoods are different. Some stay “hot” while others have a longer “cooling off” period. If you would like information for your particular location and neighborhood please don’t hesitate to call, email, or text. I would love to hear from you.
Five Star award recipient 2011, 2012, 2013, 2014 & 2015 honoring the top 7% of real estate professionals in Oregon.
IT’S A GOOD LIFE!!
Rachel Sheller-Principal Broker, Realtor, CRS, ABR, GRI, SRES
Diversity Specialist, HOWNW, Oregon First, Realtors
Direct 503.380.9634
***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***
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