Inventory Hits 10 year Low in Portland, Oregon

by | May 18, 2015 | How to Guides, Market Reports

Inventory Hits 10 year Low in Portland, Oregon

The last time inventory was this low was June of 2005 when our metro inventory was at an all time low of 1.5 months. Currently we’re at 1.9 months in Portland but here are some of the differences between 2005 and 2015.

In 2005 the average price was $286,000
In 2015 the average price is $337,000
That’s up 18%

In 2005 the average days on market was 41
In 2015 the average days on market is 75 [higher than you expected right?]
That’s up 34 days

While the market feels a little crazy right now with many homes selling way over asking the truth is that in 2005 it was even faster. Homes were selling in almost half the time on average and prices were going up quicker as well. It is a fantastic time to be a seller in Portland Oregon but it is a tough time to be a buyer. That being said it is great helping so many people who felt stuck in homes that were underwater or who couldn’t get a loan during the downturn.

Read my notes and the detailed reports: 2005 vs 2015

Also, check out our May 2015 Inventory Report, including a more detailed look at inventory numbers by neighborhood!

 

0 Comments

Learning Center:

Advice, Opinions, and Market Reports about the Oregon and Washington Real Estate Market

Portland Luxury Condo Market Analysis

  2020 was a rough year with the pandemic, social unrest, and the closure of many restaurants and retail businesses. Nowhere was the impact more acute than in downtown urban areas across the country. Read the full  luxury condo report here to view the pre and post...

How To Buy & Sell at the Same Time

  How to buy a home when you already own a home: Have you been dreaming of your next home, but you’re not sure what to do with your current home? You’ve heard that it’s a sellers market, but what does that mean if you also need to buy?  There are three options to...

How To Retire for Real Estate Agents

Our CEO and Best Selling Author of The Golden Handoff, Nick Krautter, talks with Justin Stoddart on the Think Bigger Real Estate Show to review his revolutionary model that helps real estate agents grow their business while simultaneously helping other agents rapidly...

Start Your Search Today

For a Confidential Meeting contact:

Nick Krautter, CCIM

Principal Broker in Oregon/President

Managing Broker in Washington