November 2020:  October Residential Highlights
Contact me for more information to better understand today's real estate market and specific information on your home or neighborhood.

The holiday season is upon us and that usually means spending time with family and friends but celebrating Thanksgiving and the upcoming holiday season may look different this year. November is also the month devoted to giving thanks for the blessings in our lives. Your ongoing support, loyalty, and referrals to friends and family are among the blessings for which I am sincerely grateful.

OCTOBER RESIDENTIAL HIGHLIGHTS
New listings increased by 14.7%
Pending sales increased by 24.2%
Closed sales increased by 21.9%
Inventory held steady at 1.1 months
Median sale price increased 6.1% from $410,000 to $435,000 comparing 2020 to 2019 through October
Total market time held steady at 38 days​


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October 2020:  September Residential Highlights
Contact me for more information to better understand today's real estate market and specific information on your home or neighborhood.

Portland market stats for September are out. 
Locally, we have extremely low inventory, and The Wall Street Journal just reported that we are at a 40-year low of available homes for sale nationally. Inventories dropped to a new low of 1.1 months, meaning that everything would be gone in a little over a month if there were no new listings. A level we have only seen once in the last 20 years (December 2015). Meanwhile, prices are up 11.3% from September 2019. 😳

This is what we call a HOT Real Estate market! Homes are selling at strong prices and a minimal number of days on the market! Then do not forget that mortgage interest rates are at historical lows, which increase the buyer's purchasing power!

Despite a roller-coaster stock market, lingering pandemic, and uncertainty caused by natural and made disasters, the real estate market continues to connect buyers to sellers.

Portland homes for sale: Prices rise, inventory plunges, both favor seller......Click for the full article from OregonLive!  

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September 2020:  August Residential Highlights

New listings increased 3.4%
Pending sales increased by 26.2%
Closed sales increased by 8.5%
Inventory increased to 1.3 months in August from 1.2 months
Total market time decreased to 41 days​

Stats provided by RMLS Portland Metro Home Sales Report August 2020
Contact me for more information to better understand today's market.
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Dear Friends and Clients,

Have you ever seen a year like this?

There is no doubt that 2020 has defied all expectations, with new realities and norms changing the way we live. This year’s real estate market is an exception to that shift, with historic highlights continuing to break records and challenging what many thought possible in the housing market.

However, our thoughts and prayers go out to everyone who is on the frontline of the multitude of disasters this year has brought. I just want you to know that we are here for you and anyone that you care about that has been adversely affected by any of these events.

Let us know what I can do to help you or someone you know that needs assistance during these trying times now. It takes a village, and I am happy to be a part of your village!
My direct line is 503.577.626


August 2020 (July Data)
Inventories dropped to a new low of 1.2 months, meaning if there were no new listings everything would be gone in less than 2 months.  A level we have only seen once in the last 20 years (December 2015).  Meanwhile, prices are up 8%. 😳

This is not cheap and easy credit gone wrong like the lead up to the Great Recession...this is simply Supply is less than Demand, plus the historically lowest mortgage rates we have ever seen.  Thanks to the Urban Growth Boundary, there is no quick and easy fix for supply.

Today’s housing market is making a truly impressive turnaround, and it is also setting up some outstanding opportunities for buyers and sellers. Whether you are thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two.⁠

The Biggest Perk for Buyers: Low Mortgage Rates⁠
The most impressive buyer incentive today is the average mortgage interest rate. Just last week, mortgage rates hit an all-time low for the eighth time this year. The 30-year fixed-rate is now averaging 2.88%, the lowest rate in the survey’s history, which dates back to 1971.⁠

This is a huge advantage for buyers. To put it in perspective, it means that today you can get a lower rate than any of the past two generations of homebuyers in your family if you decide to purchase at this time.⁠

The Biggest Perk for Sellers: Low Inventory⁠
Today, there are simply not enough houses on the market for the number of buyers looking to purchase them. According to NAR, “Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million).”⁠

The inventory of homes coming into the market continues to decline. It was low as we entered the pandemic and has reduced even further this year. Houses today are selling faster than they’re being listed, and that’s creating an even greater supply shortage. Buyers are eager to purchase, and because of the shortage of homes available, they’re encountering more bidding wars. This is one of the factors keeping home prices strong, an advantage for sellers.⁠⁠

Whether you’re thinking about buying or selling at home, there are some key perks available right now. Message me today to discuss how they may play to your advantage in our local market.⁠


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July 2020 (June Data)
Inventories dropped to a new low of 1.5 months, meaning if there were no new listings everything would be gone in less than 2 months.  Buyers are getting out and taking advantage of the great mortgage rates and Sellers are working hard and fast to get their homes on the market. 

This Summer is going to be the NEW Spring selling season for Real Estate - are you thinking of buying or selling? We can still do safe showings for those buyers with an immediate need. 
Please do not hesitate to ask for more information.  It will certainly be interesting to see next month's numbers.

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June 2020 (May Data)
The data is consistent with what I am experiencing in the last couple of weeks.  Buyers are getting out and taking advantage of the great mortgage rates and Sellers are working hard and fast to get their homes on the market. 

Economists are saying that Real Estate will lead the recovery as values held on and did not fluctuate the way the stock market did.  I am watching to see if investors pull out of the stock market and move to real estate....some have already started that transition.

Sales prices have been pretty flat over this time last year but days on market have gone down with homes selling quickly.  New listings are ups 20% over last month for some much-needed inventory, but flying off the market reducing months of inventory to 2.3 months.

This Summer is going to be the NEW Spring selling season for Real Estate - are you thinking of buying or selling? We can still do safe showings for those buyers with an immediate need. 
Please do not hesitate to ask for more information.  It will certainly be interesting to see next month's numbers.

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May 2020 (April Data)
We finished the month with 2.4 months of inventory, up from 1.8 from last month.  
Mortgage rates have continued to historical LOWs increasing "Buyer Purchasing Power" yet the COVID has driven real estate to pick up quickly in the VIRTUAL WORLD! 

We can still do safe showings for those buyers with an immediate need. 
Please do not hesitate to ask for more information.  It will certainly be interesting to see next month's numbers.


APRIL 2020 (March Data)

We finished the month with 1.8 months of inventory, down from 1.9 from last month.  
Year to Date Summary:
Comparing the first three months of 2020 to the same period in 2019, new listings (9,041) have held steady, pending sales (6,935) increased by 1.1%, and closed sales (6,048) have increased 10.5%.




MARCH 2020 (February Data)
We finished the month with 1.9 months of inventory, down from 2.2 from last month.  
Mortgage rates have continued to historical LOWs increasing "Buyer Purchasing Power"! 







FEBRUARY 2020 (January Data) 
We finished the month with 2.2 months of inventory. Inventories remain low and mortgage rates have gone lower increasing "Buyer Purchasing Power"! 

Average and Median Sale Prices:
 
Comparing January 2020 to January 2019, the average sale price has increased by 6.3% from $435,600 to $463,000. In the same comparison, the median sale price has increased by 5.5% from $384,900 to $406,000.  







JANUARY 2020 (December Data)
We finished the year with 1.8 months of inventory - lowest yet for 2019!







DECEMBER 2019 (November Data)