The newest October 2016 Portland Real Estate Report is out and it is very interesting to read.
We started the year so low compared to the last few years that I was worried about the health of our market. We have caught up to 2015’s Active Listings. Two years ago Dr. Yun, the National Association of Realtors said that the Portland Market can’t sustain this appreciation rate; this red line will give us a good idea where it is going.
How crazy is it that there were only 3,305 active residential listings last January in the Portland Metro area that has over 2 million residents? In 2009 and 2010 we carried around 14,000 active listings every month for those two years while selling only around 2,000 each month.
In the last two years Portland sales have dropped in a similar path after Summer. If we cross that green line I think we might be looking at a healthier, more balanced Portland Real Estate Market.
The average monthly price has followed the path of the last few years where it drops in or just after July. If there is a change in the market it won’t be obvious until this upcoming Spring. If you are thinking about selling, you might want to move on that sooner rather than later.
Did I throw too many stats at you? Want some help figuring out your next step in this market?
Call Jaimy at 503-502-3330