Portland Area Real Estate Market Update April 2019

In the Portland Metropolitan Area the real estate market had 2.2 months of inventory in the month of March. This is a decrease from February where there was 2.7 months of inventory. These numbers help consumers understand where the current market stands between buyers and sellers. Six months of inventory is considered a balanced market between buyers and sellers. When the number is under six, the market is considered to be a seller favored market, and when the number is over six it is a buyers favored market. These numbers are calculated by taking the total number of active residential listings for a month and dividing that by the total number of homes sold for that month. For example, if there is 3000 homes for sale at the end of the month and 1500 homes were sold in that month, there would be 2 months of inventory (3000/1500=2).

What does this mean?

This 2.2 months of inventory number means the Portland Metropolitan Area is still a seller favored market, and it has been for the last 3 years. Just because homes are selling for more money than they were five years ago does not mean home prices will not continue to rise. With the number of people that are moving West to Oregon home values should continue to increase because there is more demand for these homes. Even in a sellers market, buyers can get a “good deal.” Yes, sellers have the advantage in the Portland Metropolitan Area right now, but with a good real estate agent working for you, buyers will be able to get into a house without overpaying if the agent understands how to navigate the current market.

Portland Metropolitan Area Market Data: https://www.rmlsweb.com/v2/public2/loadfile.asp?id=10317