Weeks, Not Months of Inventory
The seller’s market got even stronger this month with increased activity taking more homes off the market. In most close-in areas inventory is now 2 weeks which is why homes are selling in many cases in just a couple days. The west side is the only area that is balanced in Portland at this time.
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.