What’s Happening in Portland Real Estate?

Sarita Dua - Portland, OR Realtor

Looking to sell your Portland Home? Get a FREE home value report

Looking to buy a Portland Home? Search all homes for sale

Today I wanted to talk a little bit about what’s been going on in the market. Things have been a bit crazy, especially here in Portland, and I wanted to break it down for you. First, let’s talk about the national market as a whole.
According to the most recent sales report from the National Association of Realtors, the overall inventory throughout the country is 5.1 months. This puts us in a seller’s market nationwide, where 6 months is considered a balanced market. Inventory has dropped considerably from last year, anywhere from 1.7% to 4.7% nationwide.
In Portland, we have even less inventory than that. The most recent report states that we had just 1.2 months of inventory at the end of December. That’s the lowest inventory level we’ve seen here since 1999.

What does this mean for buyers and sellers? For sellers, it means you should list now instead of waiting for later in the spring. I listed three homes last week and all of them got multiple offers, one even got 24. Your home still has to look great and be priced right to sell, but it’s much easier to get top dollar in our current market. If you’re a buyer, you can still buy, but you’ve got to have a good strategy in place. Hire a good agent who can help you with what’s on the market before it happens.
If you have any questions for me about the market or about buying or selling in Portland, give me a call or send me an email. I look forward to hearing from you!