Inventory is in a holding pattern due to strong buyer activity late this Summer. With the exception of Ladds/Hawthorne, Sellwood/Eastmoreland, and Irvington/Grant Park, where inventory dropped slightly, most neighborhoods remained fairly steady. Pending sales are trending up, which should keep inventory levels tight heading into Fall.
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 active listings and 6 months of sold data from the RMLS to create this report.