The following charts represent 24 months of real estate activity in North 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 $31k increase, which is significant compared to the $1k decrease in the Median Sold price point from October 2018 to October 2019. Accordingly, there is a $30k increase in the Median Sold price point from October 2018 to October 2020. It's also notable that beginning in March 2020, there is an increase in sold price vs. list price. This typically means that most listings receive multiple offers with buyers driving up the prices, indicating a seller's market.
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 October 2020 DOM, of 6 days, is tied with August 2020, May 2020, April 2020, and March 2020 for the second-lowest DOM in the past two years.
As you can see from the chart, the 136 homes sold in October 2020 is the fourth-highest monthly sold amount for the past 24 months - with the highest being 145 homes sold in May 2019. It's also notable that the October 2020 amount of 136 homes sold is much higher than the October 2019 amount of 101 homes sold and the October 2018 amount of 99 homes sold.
There's a lot of additional information regarding the North 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: