Join our FREE Investing in Real Estate Class Sign Me Up
Select Page

Portland Oregon off to a rough start in 2009

by | Feb 17, 2009 | How to Guides, Uncategorized

My fascination with numbers and localized inventories began last January when the metro area started off 2008 with 12.8 months of inventory. It was a huge headline, it was the most inventory recorded in almost the last 20 years. Then February and March brought that number down and it averaged 10 months until October when it started climbing again. What happened in October? The stock market crashed and took many investors out of the mix. The winter is when a lot of investors are making moves and that just didn’t happen in 2008.

November and December shot up to 15 and 14 months respectively and the number of transactions slowed considerably. Two more things worth noting are the fact that loans all of a sudden needed 45 days to close and Portland shut down for two weeks with ice and snow.

One new factor I am following and will be sharing every month is the transaction volume. Most simply put how many homes are actually selling. Transaction volume is important because price follows volume. In January of 2009 303 properties sold in Multnomah County – that’s down from 480 in January of 2008. Today the inventory for the metro area was released and it’s at 19.2 months. Here’s the scary part – last year February and March saw big increases in sales volume – This year February is on track to be the slowest month EVER with a pace that would put the total sales at 200 properties. That will drive prices down and inventory will shoot up even more with many people waiting until spring to list their homes.

The flip side is we are moving more and more to a true affordability and that will bring more buyers to the table.


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