RMLS Portland Market Action Report for January 2014

The January 2014 RMLS Market Action Report for the Portland Metro & Surrounding areas is out and is showing yet again the Portland real estate market has become a much more healthy and stable market. This positive outlook was market wide for the Portland area, officially, when almost a year ago back in April of 2013, NW Washington County was the last Portland Metro RMLS area to leave depreciating numbers behind; hopefully for good!

Inventory just about always slips in January (that is, it rises) and this year is no different with inventory going from 3.2 months in December 2013 to 4.1 months in January 2014 and when you look at current pending sales you can see that inventory could slip again in February.

 

 

 

 

 

 

 

 

 

 

This is however not typical, as most years there is a slight improvement from January to February, though it is not unprecedented. Part of the reason for this slip is the snow storms we had toward the beginning of the month which often cripple Portland for the most part; but with what appears to be good overall weather for the remainder of February in the forecasts, Portland home buyers could very well turn that around for an improvement anyway…we’ll see.

The other highlight to home owners, and potential home sellers, is that when looking at home values in January 2014 compared to January 2013, there was an overall 12.6% increase in sale prices; not bad at all!

Get a full copy of the report here.

Scott McDonald

Everything. Portland. Real Estate. Blog.

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