The following charts represent 24 months of real estate activity in SW Portland, Oregon for:
Median List Price vs. Median Sold Price
Median Days on Market (DOM)
Number of Homes Sold
The change in the Median Sold price point from October 2019 to October 2020 is a $63k increase, which is significant compared to the $12k increase in the Median Sold price point from October 2018 to October 2019. Accordingly, there is a $75k increase in the Median Sold price point from October 2018 to October 2020.
For reference, the lower the DOM, the more robust the real estate market. A DOM under ten days usually represents a seller's market. As you can see from the chart, the 11 days in October 2020 is 12 days less than the 23 days in October 2019 and 16 days less than the 27 days in October 2018. For the year-to-date in 2020, April and August tie for the lowest DOM at seven days.
As you can see from the chart, 219 homes sold in October 2020 is the highest monthly sold amount year-to-date 2020. The October 2020 homes sold is 26 higher than the 193 homes sold in October 2019 and 55 higher than the 164 homes sold in September 2018.
There's a lot of additional information regarding the SW Portland Real Estate Market that you can gather from these trend charts. Please let me know your favorite item or if you have any questions.
Learn more about the neighborhood real estate market via the following links: