So, what is going on in the Portland Real Estate Market? It’s crazy right now. There is a lot happening, so let’s dig in and take a look at the Market Action Report this month.
Inventory in Months keep marching lower and lower. Back in January, we started the year above 3 months of inventory. And now, in June, we hit 1.6 months! Have you ever seen Inventory in Months that low? Maybe, but in Portland, I can’t recall such low inventory numbers.
What is interesting, though, is the Appreciation of Values is pretty tame considering the scarcity of inventory. This isn’t a bad thing, though. This may mean it is a bit controlled and isn’t skipping closer to a housing bubble. It continues to remain in the mid-single digits. This is healthy growth and it is sustainable growth. Why? It is hard to say – we’ve got a few theories on the podcast. Take a listen and let us know what you think.
All the other numbers look good, though. Really, they’re rock solid. For example, the Average Days on Market? 44 days! Amazing. A decrease of 11 days from May’s Market Action Report.
It’s true, there is a huge flux of population flow – Portland is growing and growing. But there has to be more going on, right? There sure is! Listen to the podcast to find out why the market is moving and booming, and what to look for in the future. Added Appreciation? Price inflection points? We’ve got the perspective and we’ve got the expertise. Listen now – Real Experts. Real knowledge. Real Discussion.