New figures from the Regional Multiple Listing Service known as RMLS reveal an increase in home inventory throughout the Willamette Valley.
Even though the housing supply has increased lately, year-to-date home prices have also risen in our region’s major markets of Portland and Salem.
Portland Area Real Estate
Greater Portland home inventory bumped up by almost half. However, the prior month’s 2.3 figure was exceedingly low by historical standards. At the current rate of sales, greater Portland would now ‘run out of homes’ in 3.4 months.
Portland area home prices show an increase of 7% over the past year.
Salem Area Real Estate
Greater Salem home inventory remains significantly higher than Portland and recently experienced a 17% housing backlog increase. Home inventory for the Salem area is now at 6.1 months.
Salem area home prices are up 12.4% over the past year, or better than 1% a month.
View Each Full Report
Click here or on the Market Action image below for the complete latest Portland metro area real estate report. Check out page #2 for specific information, like average selling price and days on market, for your Portland area town or neighborhood.
Click here or on the Market Action image below for the complete latest Salem metro area real estate report. Check out page #2 for specific information, like average selling price and days on market, for your Salem area town or neighborhood.
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