Overview/Fluctuations ~ Dec 2020:
Inventory is now at a stunning 0.8 months of supply in the Portland area. So… still lower than it’s ever been and getting lower, apparently, with Buyers out en force competing over existing Properties for sale. Rates right now are hovering at or under 3.0%.
The twelve months of 2019 compared to 2020: New Listings, (38,442) decreased 5.2%, Pending Sales (32,849) increased 7.9%, and Closed Sales (32,031) increased 7.8%.
By Comparison, Twelve months of 2018 as compared to 2019 from that December report read: New Listings (40,579) decreased 1.7%, Pending Sales (30,430) increased 2.1% and Closed Sales (29,700) decreased 0.2%.
Portland Metro Area, Dec. 2020 (per RMLS data):
- There were 1,740 New Listings in Dec 2020 increased 37% from Dec of 2019’s 1,270, and decreased a whopping 22.3% from the previous month/Nov’s 2,238.
- At 2,789, Dec 2020’s Closed Sales are up 26% from Dec 2019’s 2,213, and also up 6% from the previous month/Nov 2020’s total of 2,745
- At 2,003, Dec 2020’s Pending Sales are up 13% from Dec 2019’s 1,772, and dropped 7% from the previous month/Nov 2020’s total of 2,557.
- The Average Sale Price in Dec 2020 of $514,000 is up $56,300 from last year/Dec2019’s $457,700, and down $7,200 from the previous month/Nov 2020’s $521,200. YTD increase is 7.6%.
- The “Median” Sale Price(the price smack dab in the middle of all sales) in Dec 2020 of $455,000 rose from last year/Dec2019’s $405,000 by $50,000, and decreased 2,000 from the previous month/Nov 2020’s $457,000. YTD increase is 7.3%.
Happy New Year!
As I’ve been talking about for the last few months, we have the lowest inventory right now in the Portland area that has ever been recorded. Roughly one-month’s supply.
I just thought it might be interesting for you to know that if you’ve been thinking about Listing your home, January isn’t usually the rev-up time yet… but THIS year? Rates are still low and projected to go higher, and Realtors are *literally* posting on peer-sites begging other Realtors to List homes for the Buyers that are in their pockets. So? I’d say this is an amazing moment to put your home on the market if you’ve thought of doing so.