The RMLS Portland Market Action report recently released for December 2014 offers insight not just to last month, but as a year-in-review. Our most recent infographic (shown below) provides a visualization of the trends of the last three years. The main theme? It’s a seller’s market so buyers need to position themselves to compete.
One of the figures that points towards this is the notable 2.3 month inventory level. That level shows that if no other homes were to enter the market, it would take 2.3 months to sell all of the current inventory. The infographic below reveals that it is the lowest in recent years. To give some context, a quick view of our past RMLS Market Action posts reveals that it goes beyond the three years shown. The last time we saw such a low inventory count was back in March of 2006 – over 8 years ago! Low inventory means added value for (more…)