I have put together this localized home inventory report to 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 property 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 and 6 months of sold data from the RMLS to create this report.
Trend: Detached homes close in remain balanced and have shed some inventory. Condo inventory continues its rise, especially in downtown Portland due to more constrictive lending rules and over supply of available units.
Highlights: Piedmont, Arbor Lodge/Kenton & Sellwood are strong with lower inventory. Gresham and Happy Valley are at 11.3 and 8.9 months respectively, significantly lower than last months numbers. Downtown & the West Hills have seen a significant surge in inventory. portland-inventory-report-070109