November 2020 - 24 Months Real Estate Trends - SE Portland, Oregon
The following graphs 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 November 2019 to November 2020 is a $68k increase, significantly higher than the $7k increase in the Median Sold price point from November 2018 to November 2019. Accordingly, there is a $75k increase in the Median Sold price point from November 2018 to November 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 graph, the six days in November 2020 ties August 2020 and April 2020 for the second-lowest monthly DOM amount for the past 24 months - with the lowest being five days.
As you can see from the graph, the 355 homes sold in November 2020 are 98 homes higher than the 257 homes sold in November 2019 and 89 higher than the 266 homes sold in November 2018. The 355 homes sold in November 2020 is the second-highest monthly homes sold amount during 2020, with the highest being 381 homes sold in July 2020.
There's a lot of additional information regarding the SE Portland Real Estate Market that you can gather from these trend graphs. 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: