Seller Activity Brings Inventory Relief
January brought some inventory relief to the Portland real estate market, as the amount of new listings increased almost 64% over last month. Buyer activity increased 15.9% month over month, continuing to make the close-in market incredibly tight. However stronger seller activity, given the recent uptick in median home values, allows for slightly more breathing room for buyers in the early part of 2016.
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.