Portland Real Estate - the Inventory Gap Widens with Interesting Supply/Demand Trends
The Average Sale PriceDecreased by about 1% vs the previous week - remaining in the trendline. Compared to Last Year at this time, the average was Down by 5.6%. However, there was an anomalous $35,000 spike in the average sale price during this same week last year. So, the difference should mellow next week.
The Supply of homes to purchase continued to Inch Up - but not as fast as last year. Last Year at this time buyers had 8.9% More Homes to Choose From than they do this year. Over the past 6 weeks the number of active listings increased at a number 1/3 lower than last year.
Buyer Demand Rebounded remained in our trend line with 680 New Deals - only 7 fewer than the previous week. Over the past 6 weeks the total number of pending deals decreased by 65. During the same timeframe last year, the decrease was a whopping 816!
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