With 2011 drawing to an end it is looking like the Portland Real Estate Market will end stronger than it did in 2010, this is primarily a result of the sales volume. Sales in November were 19% higher than last year and were even higher than Octobers final numbers by 3%.
On the other side of the coin though we have seen available inventory fall to just 9,451 units and is at it’s lowest number since the middle of 2006, with this number the market with use the supply in just over 6 months. Another note is that nearly a third of all homes sold in November were either distressed, short sale or bank owned foreclosures.
2012 will hopefully bring some more clarity on the future of the Portland Real Estate Market. The Taylor Group Realty Team will be on your side to deliver Portland Real Estate news and updates as it is available. If you have any questions on your home or the market please call us at (503)417-7800. Or fill out our contact form.
