Home Sales Across Oregon on the Rise During Coronavirus Crisis. Check out Portland Oregon Statistics.

Dated: April 27 2020

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Despite widespread business losses and unemployment during the coronavirus pandemic, homes are still being listed for sale, toured, inspected, appraised and sold.

Sellers at almost all levels continue to profit from the low number of residential properties for sale in Oregon, the state with the largest housing shortage in the nation. Here are the stats for the Portland Metro Area.

Metro Portland

  • New listings in March 2020, at 3,468, decreased 1% from March 2019 (3,504) and rose 25.7% from February 2020 (2,759).
  • Pending sales (2,347) decreased 14.3% over the 2,738 offers accepted in March 2019, and fell 9.7% from the 2,598 offers accepted in February 2020.
  • Closed sales (2,356) rose 7.9% from the 2,183 closings recorded last year in March 2019 and increased 24.2% compared with the 1,897 closings recorded in February 2020.
  • Inventory decreased slightly to 1.8 months this March. Inventory is calculated by dividing the active residential listings at the end of the month by the number of closed sales and homes proposed and under construction.
  • Total market time decreased to 61 days.
  • 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 1.1%, and closed sales (6,048) have increased 10.5%.
  • Comparing 2020 to 2019 through March, the average sale price has increased 4.1% from $443,500 to $461,600. In the same comparison, the median sale price has increased 5.1% from $395,000 to $415,000.

Taken from the Oregonian- Full Article Here

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Fendon Properties Team

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