Welcome to KOVER Realty’s Winter market update for Portland Oregon.
As I look at the real estate market currently, I have to pause and take into consideration everything around us in Portland. What jumps out at me, in all of my time working as a Realtor in the Portland metro area, never before have I seen this few houses for sale. December 2020 saw a meager 0.8 months and January 2021 shows 1.0 months supply of SFR houses for sale. Yikes! The result of this low supply is over a 10% increase in prices year over year in many neighborhoods.
My guidance for the remainder of the season for buyers is to be quick with offers as solid houses in the right neighborhoods will not last long. Sellers continue to be in a strong position but still need to price their houses competitively. With the historically low number of houses and condos for sale in Portland and the uncertain economy, I am still viewing the market as neutral.
KOVER Realty is following social distancing guidelines and face mask requirements during open houses and showings. To view a detailed weekly market report from my preferred title & escrow partner, First American Title Co., click below.
Thinking about buying or selling property in Portland or the surrounding area? I am here to help, call or text: 503.891.4725.