Summer Doldrums Keep Sales Flat | Portland Sales Volume Report | July 2016

by | Jul 6, 2016 | Market Reports, Sales Reports

Summer Doldrums Keep Sales Flat

965 homes sold in Portland this June, which is 1 more than May. Sales volume is trending up into summer as I’d expect but what is really shocking is the sharp increase in average price which in the Portland area is over $450,000. Pending sales are pointing to a strong market this summer. The market is still favoring sellers and promises to keep inventory low even before the summer rush.

Wild cards: As prices rise, more buyers are priced out of the market which could slow the pace of sales. Interest rates have dropped close to all time lows. Out of state investment continues to push prices and rents higher and keep inventory low.

I’m predicting around 1050 closed sales in Portland (RMLS areas 141, 142, 143 & 148) in July.



Learning Center:

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

CDC’s COVID-19 Eviction Moratorium

CDC’s COVID-19 Eviction Moratorium

In an effort to prevent the spread of COVID-19, CDC Director Dr. Robert Redfield signed a declaration determining that the evictions of tenants could be detrimental to public health control measures to slow the spread of SARS-Cov-2, the virus that causes COVID-19. ...

Start Your Search Today

For a Confidential Meeting contact:

Nick Krautter, CCIM

Principal Broker in Oregon/President

Managing Broker in Washington