January 2021 - 24 Months Real Estate Market Trends Analysis

January 2021 Real Estate Market Trend charts representing 24 months:

- Median Days on Market (DOM)

- Number of Homes Sold

- Median Sold Price

for locations:

North Portland, Oregon

Northeast Portland, Oregon

Southeast Portland, Oregon

Southwest Portland, Oregon

Northwest Portland, Oregon

Hillsboro, Oregon

Beaverton, Oregon

Tigard, Oregon

Lake Oswego, Oregon

Milwaukie, Oregon

Happy Valley, Oregon

Gresham, Oregon

Let's dive in with our expanded market trends! January 2021 performed as expected.

MEDIAN DAYS ON MARKET - The January 2021 Days-on-Market, as part of a 24-month trend, created a W, and if you connect the Januarys, the line should be at the top of the W. Why? Because the real estate market slows down at the end of the year due to the holidays, this is why the Days-on-Market would be higher during those times. While there are a few locations that break the rule, most do follow this trend.

I've also created a summary graph of Jan 2021 DOM vs 12 Month Trend DOM. This graph provides an at-a-glance understanding of how the current month's activity compares to the previous 12 months.

The following slideshow contains a summary graph of Jan 2021 DOM vs 12 Month Trend DOM and then has the 24 month DOM trend chart for each of the twelve locations.

(Mobile Phone: Double-tap chart/graph to see full size.)

MEDIAN NUMBER OF HOMES SOLD: The January 2021 Number of Homes Sold, as part of a 24-month trend, created an M, and if you connect the Januarys, the line should be at the bottom of the M. Why? Because the real estate market slows down at the end of the year due to the holidays, this is why the Number of Homes Sold would be lower during those times. While there are a few locations that break the rule, most do follow this trend.

I've also created a summary graph of Jan 2021 Homes Sold vs 12 Month Trend Homes Sold. This graph provides an at-a-glance understanding of how the current month's activity compares to the previous 12 months.

The following slideshow contains a summary graph of Jan 2021 Homes Sold vs 12 Month Trend Homes Sold and then has the 24 month Number of Homes Sold trend chart for each of the twelve locations.

(Mobile Phone: Double-tap chart/graph to see full size.)

MEDIAN SOLD PRICE:

In all areas, Jan 2021 Median Sold Price shown below in the white bars exceeded the Median Sold Price for the past 12 months shown below in red. Does that make sense? Yes, prices are increasing. Even if the sold price was lower in January than December, like in Happy Valley and Tigard, prices overall are up. In fact, in many locations, prices have been increasing since January 2019.

The following slideshow contains a summary graph of Jan 2021 Sold Price vs 12 Month Trend Sold Price and then has the 24 month Sold Price trend chart for each of the twelve locations.

(Mobile Phone: Double-tap chart/graph to see full size.)

Picking up from last month's video, let's look at interest rates for the past two years. You can see that they're currently below 3%, which is historically low. When combined with the low housing inventory, buyers have increased purchasing power, reflecting the low days-on-market and rising sold price

Now let's take a look at housing inventory. All but three locations have less than a month of inventory. Only SW Portland, NW Portland, and Happy Valley have over one month worth of inventory, but all locations have less than two months of inventory - which is still very low.

Taking it a step further, let's get a further visual of housing inventory. This graph shows Jan 2021 Homes Sold in White, 12 Month Trend Homes Sold in Purple, and Active Listings in Green. You can see that both Jan 2021 Homes Sold and the 12 Month Trend Homes Sold are higher than Active Listings for NE Portland, SE Portland, Hillsboro, Beaverton, Lake Oswego, Milwaukie, and Gresham. In North Portland, you can see that Jan 2021 Homes Sold is slightly under Active Listings, but the 12 Month Trend Homes Sold is higher than Active Listings. This graph will be interesting to watch month to month.

Thanks for visiting my website. Please come back every month for real estate trends analysis. And please let me know if you have any questions.