Fresh figures were just released on Oregon’s real estate market by the Regional Multiple Listing Service, or RMLS. To put the results in a nautical vernacular, we remain ‘steady as she goes.’
Let’s begin with greater Portland, where our backlog of home supply is unchanged at 1.8 months.
This means our housing supply remains well below the oft-suggested ‘normal’ range of 3 to 6 months, especially when compared to years past. When the pipeline of homes is this low, it suggests we remain squarely in a ‘seller’s market.’
Along with housing inventory, home prices are another helpful indicator of market direction. The above chart is evidence of greater Portland’s sustained price growth, providing more confirmation of a ‘seller’s market.’
Greater Salem is also experiencing stable growth, as evidenced by little change in a relatively modest housing supply of 3.9 months as seen above, matched with an overall trend of increased home prices, seen below.
Click here for the free latest complete Salem area real estate report, or on the Market Action image below.
Thinking about selling your Oregon real estate in the hot seller’s market? Wherever in Oregon you live, we can help with a free consultation, provide information on your property’s value, or simply answer questions about steps in the home selling process.
Contact Certified Realty using the convenient form below, or call (503) 682-1083 today for smooth sailing ahead.