September 2014 RMLS Market Action Report

The September RMLS Market Action Report is out and is showing the market is still quite strong for sellers with inventory still low in terms of number of months. RMLS shows 3.1 months for September. My own number tracking shows us running around 80 days currently (seems to be decreasing for October, which is not the norm).

Other highlights include solid gains for the average sale price as well which for September was $338,100 up 6.6% from September 2013 and 7.4% for year to date, but that is down .6% from August. My own numbers show we are currently hovering around the $360,000 mark so it is still increasing currently in late October.

Typically we would be seeing a solid slow down in the market right now and while we are seeing that with inventory over all, down from over 6,400 homes in early September to just barely 5,800 now, usually we would be seeing larger jumps in the inventory in terms of months worth of inventory, but we’re not seeing that with only a .1 /month jump for September from August where as in 2013 that same jump was .6 and in 2012 it was .7.

Healthy market folks; sellers, you may want to go ahead and list now and not wait for spring next year.

Winners and Losers Time

The winner for the highest appreciation rates as of the September report is; SE Portland with 13.9%

The loser for the lowest appreciation rate is Tigard and Wilsonville at 6%

Remember though, even though RMLS considers Columbia County and Mt Hood part of the “Portland Metro Area”; well… I don’t. Those two however were actually the winners in this report with Columbia County at 14.5% and Mt Hood at 5.8% (well, then you have Yamhill County, 2.4%…OUCH, but it’s not negative at least!).

If you’d like to pour over all the numbers for yourself you can get the full report by clicking here.

Also, if you want other areas in Oregon and Washington covered by RMLS, please shoot me an email and I’d be happy to send it over.

Your Portland Oregon Realtor,

Scott McDonald

Everything. Portland. Real Estate. Blog.

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