CHANGE IS HERE! Take a look at the very latest real estate stats for the Portland-Metro areas. The market is slowing a bit because of the time of year (We always see a slow down after school starts), but also because the local market has been and is changing to favor the buyer more.
In Portland-Metro last month pending sales saw the sole gain in the Portland metro area. There were 2,929 pending sales, a 6.1% increase over the 2,760 offers accepted last year at the same time but falling 2.3% short of the 2,998 offers accepted last month.
Closed sales, at 2,901, decreased 2.2% from the 2,967 closings recorded in August 2018 and fell 1.5% short of the 2,944 closings from July 2019.
New listings (3,757) fared similarly, ending 10.8% lower than in August 2018 (4,214) and 5.3% lower than last month in July 2019 (3,966).
Total market time rose by five days in August to end at 48 days. Inventory held steady at 2.3 months.
Average and Median Sale Prices
Comparing 2019 to 2018 through August, the average sale price has increased 1.0% from $454,500 to $458,900. In the same comparison, the median sale price has increased 2.2% from $401,000 to $410,000.
If you have been waiting to sell! Wait no longer! Take a look at the Portland-Metro appreciation values. We are seeing 4 areas with negative appreciation, vs 3 areas last month. the market is starting to slow and show signs of change. Overall, the market is Robust and strong with an overall appreciation of +1%. That is a big change from a year ago, or just 6 months ago.
It’s a GREAT time to buy because prices are leveling off and interest rates are still low. It’s also a good time to sell as there is less competition and the interest rates are low. Interest rates have a strong affect on our market. For more information on buying and/or selling in today’s market, please call, email, or text anytime.
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Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE,CSA-Certified Staging Agent,Oregon First-Principal Broker, Washington First-Managing Broker
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