Portland Area Monthly Market Update - February 2021

Home inventory rose to 1 month! Woohoo!

Now yes that is a nominal change up from 0.8 months, but hopefully, it means we are trending upwards and giving those of you who are buyers more opportunities in the future!

AND listings saw an increase of 48% in January 2021 compared to the end of the year. Yay!

Let's hope this trend continues.

Predictions say it will.

Taking into consideration the year-to-year trends of inventory of homes rising in the spring/summer, and the steady increase of home prices combined with high buyer demand making it more advantageous for potential sellers to list their homes...

A rise in options for buyers and some relief to the market is highly possible.

** Note to potential sellers, if you are looking to sell, based on what I said above, there is no time like the present.

As mentioned before, the average sales price continues to steadily increase with the current average being $514,700.

Pending sales are also on the rise with an 11% increase showing buyer demand is still high.

Sold homes actually saw a decrease though of 33%. This will be an interesting one to watch.

Our current market is odd for both buyers and sellers so if you have any questions or want to talk it out further I am here to chat.

Do you have specific questions about the housing market and/or are you looking to make a move in 2021? We are here to help! You can contact us HERE.