September 2020 -24 Months Real Estate Trends - North Portland, Oregon
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 September 2019 to September 2020 is a 7% increase, which is significant compared to the 0% increase in the Median Sold price point from September 2018 to September 2019. Accordingly, there is a 7% increase in the Median Sold price point from September 2018 to September 2020. It's also notable that beginning in March 2020, there is a significant 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 September 2020 DOM, of 5 days, is tied with July 2020 for the lowest DOM in the past two years.
As you can see from the chart, the 126 homes sold in September 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 Sept 2020 amount of 126 homes sold is much higher than the Sept 2019 amount of 83 homes sold and the Sept 2018 amount of 80 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: