Usually this time of year things start to slow up a bit and this August is no different. We’re seeing a dip across the board, however it’s a very light dip thus far.
Here’s the overall closed sales so far:
As you can see, we’ve gone from an average around 100 closings per day in mid-late July and now in August we’re getting closer to around 75 sold homes per day. Again, normal for this time of year, and despite the beautiful home selling weather we’re having, it’s still happening.
As for inventory, we’re remaining pretty steady overall. Mid July we were seeing roughly 120 or so new listings per day, and though it has slipped a tiny bit here into mid-August at what is now around 110 or so:
the combined decrease in sales and the decrease in listings is keeping inventory fairly steady. As of yesterday, 6,450 residential homes were active on the market in the Portland Metro and surrounding areas.
Pending sales look like they could begin taking a dip as well, however the last few days there was a bit of a bump which could average out and continue the roughly 80 per day trend; we’ll see:
Just as a heads up to those not aware, my tracking only involves the Portland Metro and surrounding areas including Clackamas County, Multnomah County and Washington County…I don’t track anything in the state of Washington or other Oregon Counties (FYI).
That’s it for numbers today!
Scott McDonald, Your Portland Realtor
Everything. Portland. Real Estate. Blog.