August Portland Market Report
If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the Portland market. Last month saw the typical August slow down which is commonplace in our market. Every year August is historically one of the slowest months of new supply and pending sales. This is most likely due to everyone trying to soak up that last bit of summer vacation before the routines of school and fall sports bring everyone actively looking for a home back into the fold. Inventory actually went back down from 2 months to 1.8 months of supply. New listings, pending sales and closed sales were all down month over month. Days on market increased from 20 to 28 days.
Knowing the most important data such as the average sales price, the number of homes sold, and days on market will better prepare you to sell your home.
Our August market report showcases everything you need to know about local real estate trends.