Inventory remains tight for the Portland market. This is good news for current Sellers on the market, as demand for houses continues to outpace the supply of homes available. Now at the beginning of Spring, the number of new listings is starting to pick up but buyer activity remains strong. This should keep inventories low into the summer with prices continuing to appreciate.
This localized home inventory report helps give context to the metro statistics that often make headlines. Real estate is a local affair and this report shows which parts of town and which types of properties are selling and which ones are sitting. Inventory is figured in months with 6 months being balanced, less than 6 months favoring sellers and more than 6 months favoring buyers. I use current active listings and 6 months of sold data from the RMLS to create this report.