The following charts represent 24 months of real estate activity in SE 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 September 2019 to September 2020 is a $50k increase, which is significant compared to the $10k decrease in the Median Sold price point from September 2018 to September 2019. Accordingly, there is a $40k increase in the Median Sold price point from September 2018 to September 2020. It's also notable that beginning in June 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 most usually represents a seller's market. As you can see from the chart, the five days in September 2020 is the lowest monthly DOM amount for the past 24 months.
As you can see from the chart, the 353 homes sold in September 2020 is significantly higher than the 248 homes sold in September 2019 and the 275 homes sold in September 2018. The 353 homes sold in September 2020 is the third-highest monthly homes sold amount in the past 24 months.
There's a lot of additional information regarding the SE 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: