North Portland Real Estate Snapshot

Running the actual numbers is important, even if you aren't a statistics geek. I like to see the results and analyze how the actual market is affected, so I'll give you the results:

The North Portland real estate market has seen a decline in inventory (houses for sale) over the last year. The greater Portland Metro Area has seen a decline in listing inventory for the last year as well. The houses that are in good condition, marketed well, and priced right are selling. Buyers who want to live in the houses they are purchasing (not investors) are having a tough time finding the right house and making an offer on it before it sells. The absorption rate in North Portland has bounced up and down over the last year, but on average we are seeing a rate of 12.7%. So every month about 13% of the houses for sale are selling. At the bottom of the market we were only seeing around 3-5%.