Portland Real Estate Market Conditions March 2010
Compared with March 2009, the Portland housing market is definitely improving–but slowly. There has been a significant increase in pending sales, closed sales and new listings. The number of months of inventory (which determines buyer or seller market) is down to 7.8 months–a much more normal number for our market. See the chart at the very bottom of this post for details.
Is it a buyers market or a seller’s market? See the chart below.
It’s all based on the number of months of inventory. How many months would it take to sell all the homes currently on the market if no new property came up for sale? Less than 4 months inventory is a sellers market; 4-6 months is a neutral market; and more than 6 months inventory is a buyers market. All information is courtesy of RMLS.
