October 2020 - 24 Months Real Estate Trends - SE Portland, Oregon
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 October 2019 to October 2020 is a $42k increase, higher than the $34k increase in the Median Sold price point from October 2018 to October 2019. Accordingly, there is a $76k increase in the Median Sold price point from October 2018 to October 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 October 2020 ties September 2020 for the lowest monthly DOM amount for the past 24 months.
As you can see from the chart, the 311 homes sold in October 2020 is lower than the 345 homes sold in October 2019 but higher than the 299 homes sold in October 2018. The 311 homes sold in October 2020 is the fourth-highest monthly homes sold amount during 2020.
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: