How's the Portland Market?
A weekly update on the Portland real estate market.
2/16/21
Week of February 8th through the February 14th
Homes Sold: 426 – compared to 446 last week and 658 the week before. During the same week last year, this number was 622.
Active Listings: 1971 vs 2033 last week and 2092 the week before.
Total number of pending deals today – 5308 vs 5215 last week and 4932 the week before.
New Pending Deals: 730 down from 817 last week and 896 the previous week.
Average Days on Market 31 - Median Days on Market 5.
Our Prediction of the “Inventory in Months” for January, 2021 – 0.9 Months of Inventory
Average List Price vs Sale Price
Average Sale Price as a Percentage of the Asking Price – 101.25%
Median Sale Price as a Percentage of the Asking Price – 103.44%
Average Sale Price as a Percentage of the Original Asking Price 100.56%
February 2nd 2020
Week of January 25th through the 31st
Homes Sold: 658 – compared to 430 homes sold during the previous week and 552 last year.
Active Listings: 2092 vs 2144 last week vs 2299 the previous week.
Total number of pending deals today – 4932 vs 4853 last week.
New Pending Deals: 897 up from 816 last week and 772 the previous week.
Average Days on Market 39 - Median Days on Market 11.
Average List Price vs Sale Price
Average Sale Price as a Percentage of the Asking Price – 100.57%
Median Sale Price as a Percentage of the Asking Price – 101.12%
Average Sale Price as a Percentage of the Original Asking Price 99.38%
January 27th, 2020 - Portland Metro Area
Week of the 18th through the 24th
Homes Sold: 430 – compared to 571 homes sold during the previous week and 381 last year.
Active Listings: 2144 vs 2299 last week.
Total number of pending deals today – 4853 vs 4602 last week.
New Pending Deals: 816 up from 772 last week.
Average Days on Market 32 - Median Days on Market 9.
Average List Price vs Sale Price
Average Sale Price as a Percentage of the Asking Price – 100.71%
Median Sale Price as a Percentage of the Asking Price – 101.64%
Average Sale Price as a Percentage of the Original Asking Price 99.88%
PORTLAND METRO AREA (OR AND WA)
January 19th, 2020
Week of the 11th through the 17th
Homes Sold: 571 – compared to 527 homes sold during the same week last year and up from 541 the previous week. 735 on December 7th through the 13th.
Active Listings: 2299 vs December 18th 2874.
Total number of pending deals today – 4602 vs December 18th 4942.
New Pending Deals: 772 up from 706 during the week of December 7th through the 18th.
Average Days on Market 32 - Median Days on Market 10.
Average List Price vs Sale Price
Average Sale Price as a Percentage of the Asking Price – 100.49%
Median Sale Price as a Percentage of the Asking Price – 101.63%
Average Sale Price as a Percentage of the Original Asking Price– 98.66%
Jan 15, 2021 - January Market Report
December Residential Highlights
New listings (1,740) increased 37.0% from the 1,270 listed in December 2019, and decreased 22.3% from the 2,238 listed in November 2020.
Pending sales (2,003) increased 13.0% from the 1,772 offers accepted in December 2019, and decreased 21.7% from the 2,557 offers accepted in November 2020.
Closed sales (2,789) increased 26.0% from the 2,213 closings in December 2019, and increased 1.6% from the 2,745 closings in November 2020.
Inventory and Total Market Time
Inventory decreased to 0.8 months in December, the lowest on RMLS™ record. Total market time decreased to 40 days.
Year-to-Date Summary
Comparing the twelve months of 2020 to the same period in 2019, new listings (38,442) decreased 5.3%, pending sales (32,849) increased 7.9%, and closed sales (32,031) increased 7.8%.
Average and Median Sale Prices
Comparing 2020 to 2019 through December, the average sale price has increased 7.6% from $459,200 to $494,000. In the same comparison, the median sale price has increased 7.3% from $410,000 to $440,000.
