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Portland Homes: Fade To Red

February 11, 2016 By Roy Widing

Oregon, Real Estate, Oregon Real Estate, Oregon Homes, Portland, Portland Oregon, Portland Oregon Real Estate, Portland Homes, Oregon HomesNew figures from the Regional Multiple Listing Service suggest our current hot real estate market recently transitioned from white to red.  No, that’s not wine we’re talking about. Instead, we’ve gone from white hot to red hot, because home supply just increased from a shockingly low 1.2 months to a slightly less alarming 1.8 months.

Oregon, Real Estate, Oregon Real Estate, Oregon Homes, Portland, Portland Oregon, Portland Oregon Real Estate, Portland Homes, Oregon Homes

This housing backlog shift is more easily understood by looking at the above table. Historically, January inventory figures are largest and represent a ‘high point,’ followed by an overall reduction in housing supply later in the year.

Spoiler Alert
But if 1.8 months of Portland metro area home supply is our largest in 2016 and followed by the usual continued decrease, a case could be made for predicting some truly historic low numbers to come, possibly in the inventory range of below one month. That would present seriously new territory for our housing market.

Oregon, Real Estate, Oregon Real Estate, Oregon Homes, Portland, Portland Oregon, Portland Oregon Real Estate, Portland Homes, Oregon Homes

Neighborhood On Fire
Annual price appreciation in a few Portland neighborhoods stands out. A case in point is North Portland, which sports a 15.1% annual appreciation rate in the above table, even with a solid average selling price of $362,100. 

Oregon, Real Estate, Oregon Real Estate, Oregon Homes, Portland, Portland Oregon, Portland Oregon Real Estate, Portland Homes, Oregon Homes

Up, Up & Away
This continued low supply of homes has a direct effect on home prices: Up. As seen in the above chart, home values throughout the greater Portland metro area continue to climb.

View Your Area’s Market Statistics Here
marketaction

Interesting new figures for key market statistics like average market time and selling price are available for towns and cities throughout the Portland metro area. View the latest Portland metro housing figures for your neighborhood or town by clicking here or the Market Action image above.

Is Now The Time?
This combination of seriously low inventory and attractive interest rates provides a rare ‘seller’s market’ opportunity for the sale of Oregon real estate. Contact the experts at Certified Realty for a free analysis of what your property could sell for in our current seller’s market by using the convenient contact form below. 

 

Filed Under: 2016 Oregon Real Estate, Oregon Home Supply, Oregon Homes For Sale, Oregon Homeseller, Oregon Homeselling, Oregon Housing, Oregon Housing Data, Oregon Housing Inventory, Oregon Properties, Oregon Property Appreciation, Oregon Real Estate, Oregon Real Estate Market, Oregon Real Estate Market Data, PDX Home, PDX Homes, Portland Home, Portland Homes, Portland Property, Portland Real Estate, Real Estate, Selling Oregon Real Estate, Selling Your Oregon Home, Southwest Portland, Southwest Portland Real Estate, SW Portland, SW Portland Home, SW Portland Homes, Willamette Valley, Willamette Valley Homes, Willamette Valley Oregon, Willamette Valley Properties, Willamette Valley Property, Willamette Valley Real Estate, Willamette Valley Real Estate Market Tagged With: How To Sell Your Oregon Home, Oregon Home Inventory, Oregon Home Sales, Oregon Homes, Oregon Homeselling, Oregon Housing Inventory, Oregon Real Estate Supply, Portland Housing, Portland Housing Supply, Portland Oregon, Portland Oregon Real Estate Supply, Portland Properties, Portland Real Estate, Portland Real Estate Inventory, Portland Realtor, Sell My Oregon Home, Selling Oregon Home, Southwest Portland, SW Portland, SW Portland Home, SW Portland Properties, SW Portland Property, SW Portland Realty, Willamette Valley, Willamette Valley Homes, Willamette Valley Property, Willamette Valley Real Estate Inventory

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