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Portland Market Action: HOT

July 16, 2015

I think we all know we're experiencing an incredibly hot market right now with low inventory.  But it's mega low.  The lowest of the low!!  The inventory for June 2015 was a staggeringly low 1.6.  This means that it would take 1.6 months to sell all the homes currently for sale.  Last summer, it was 2.8. In a balanced market, that indicator would be 6.   This is why homes are going pending within days with multiple offers - there simply isn't enough inventory for all the people who are hot to buy!

 

Values continue to rise as well.  The median sale price rose 7.1%  from $280,000 last year to $300,000 this year.  That number continues to rise each month - making it a good time to buy/invest.

 

I'm happy to help with your real estate endeavors!!

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