Overview/Fluctuations ~ Market Data Dec 2021 (+2020):
Every year I like to add in a comparison at the end of the year to the year prior being as the December report offers a unique opportunity to look at just that. So, below you’ll find our usual monthly overview & Neighborhood Report along with a comparison; 2021 to 2020. I hope it gives you some insight that helps you increase your understanding of this area & maybe your own strategic options (if that’s relevant) a little better.
Inventory is now at a stunning 0.6 months of supply in the Portland area for December. Our supply has simply never been this low… a little more than 2 weeks of Inventory available. Rates as of this writing are hovering around 3.5%, and the Fed is signaling that rates will be rising.
The twelve months of 2021 compared to 2020: –New Listings, (40,531) increased 5.4%. –Pending Sales (35,405) increased 7.8%, and –Closed Sales (35,182) increased 9.8%. ***By Comparison, Twelve months of 2020 (to compare to 2021 above) from last year’s December report read: -New Listings, (38,442) decreased 5.2%, -Pending Sales (32,849) increased 7.9%, and -Closed Sales (32,031) increased 7.8%.