Owned and operated by Patrick Krause
Metro Market Report for May and June 2014
Pending Sales: 2,989 (up 5.8% from previous month)
Closed Sales: 2,483 (up 15.9% from previous month)
New Listings: 4,192 (up 15.5% from previous month)
Ave Sales Price: $335,300 (up from $332,600 in April 2014)
Total Market Time: 67 days (down from 77 in April 2014)
Inventory (months): 2.8 (same as 2.8 in April 2014)
Pending Sales: 2,965 (slightly down .8% from previous month)
Closed Sales: 2,617 (up 5% from previous month)
New Listings: 4,078 (down 2.7% from previous month)
Ave Sales Price: $334,800 (down from $335,300 in May 2014)
Total Market Time: 59 days (down from 67 days in May 2014)
Inventory (months): 2.8 (same as 2.8 in May 2014)
Half of the year is in the books and it has become fairly obvious that the real estate market in 2014 picked up where it left off after an excellent year in 2013. The major market indicators are quite strong but you will notice some leveling off when reviewing the stats in June. While the market is still certainly very good, I think most Realtors would tell you that they have noticed a pause in the marketplace. One could argue that something like that is healthy from time to time so that we don’t burn too hot and then crash. Even so, it is worth noting that pending sales, new listings and the average sales price have all fallen slightly from May to June. That said, I think there is a strong reason to believe that the second half of this year will continue to be quite good….especially since inventory and interest rates are looking like they will remain very low.
Contact me today to find out what your home is worth in the current Portland Metro real estate market and/or to find your next home! Also, be sure to check out the “Search By City” section of Metro Market News. I’ve added videos and a Featured Properties section for each city that updates new market activity for each area in real time.
Owner, Principal Broker
Soldera Properties, Inc.