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Weekly Report

10/22/2020

More time, more attention, best outcome.

Good afternoon neighbor,

 

How are you? Getting into the swing of fall, I hope. It does feel like we’re having a slight extension of summer, or at least that’s how people are acting. The real estate market has kept up and have you been to a park lately? They’re filled! I've never seen them so busy. It’s been a good year for dogs! 

 

Let me know what you’re working on and if you need help with anything. If you're working on any fun projects, send me a picture. I’d love to see it. I spent this last weekend sanding/refinishing an oak dresser I got off craigslist for 40 dollars and it looks great! 

 

Let's finish this week out strong. My weather app is saying we’re going to get a little rain tomorrow, but then sun through the weekend and most of next week! Let's hope I'm right.

 

Best,

Evan Zener 
Strong|Edge Realty Team with eXp 

Northern Coast Market Report
If anyone has property on the Northern coast they've wanted to sell, it looks like you're missing a good season. I strongly focus on selling residential properties in Portland, but I also sell lots of land, and in selected locations in Oregon. Mainly the Northern Coast and the Bend area. Many, many fun weekend road trips!

With record low inventory on the Northern coast and increased pending/closed sales compared to the previous years, if you listed a property at the coast over the past couple of months, you had a much higher likelihood of selling than in the recent years. 
 
Oregon Coast Inventory by month shown on graph with red circle.
A dramatic decrease even compared to Portland's drop in inventory. 
Pending sales (201) increased 18.2% from the 170 offers accepted in September 2019, and decreased 23.0% from the 261 offers accepted in August 2020. Closed sales (206) increased 13.8% from the 181 closings in September 2019, and increased 4.6% from the 197 closings in August 2020.

Inventory decreased to 1.5 months in September. Total market time decreased to 94 days.

Year-to-Date Summary Comparing the first nine months of 2020 to the same period in 2019, new listings (1,697) decreased 17.2%, pending sales (1,576) increased 9.1%, and closed sales (1,371) increased 3.2%.
Multnomah County Market Snapshot 
Clackamas County Market Snapshot 
Both Multnomah and Clackamas Counties 'sold units' and average price change continue to rise, while pending/listed units and have been dropping since around mid-end of summer. Tillamook county has been declining in all three of those areas since August.
Tillamook County Market Snapshot 
Zoom in and you can see Tillamook county has been all over the place in the past several months in regards to average sale prices compared to the previous year/month. One month there is a huge decrease and in the next month a huge increase.
Portland-Metro Monthly Report- September 2020

September Residential Highlights New listings (3,264) decreased 5.9% from the 3,470 listed in September 2019, and decreased 16.0% from the 3,885 listed in August 2020.

Year-to-Date Summary Comparing the first nine months of 2020 to the same period in 2019, new listings (30,715) decreased 9.6%, pending sales (25,453) increased 5.5%, and closed sales (23,033) increased 2.8%. 

Average and Median Sale Prices Comparing 2020 to 2019 through September, the average sale price has increased 5.7% from $458,900 to $485,200. In the same comparison, the median sale price has increased 5.7% from $410,000 to $433,500. 

Pending sales (3,152) increased 17.3% from the 2,686 offers accepted in September 2019, and decreased 14.7% from the 3,697 offers accepted in August 2020. 

Closed sales (3,251) increased 36.8% from the 2,377 closings in September 2019, and increased 3.2% from the 3,149 closings in August 2020.

Inventory and Total Market Time Inventory continues to fall, decreasing to 1.1 months in September. Total market time decreased to 38 days. 

Oregon Employment, September 2020

Yesterday we got the September 2020 jobs report from our friends at the Employment Department. The topline numbers continue to be good, or at least probably good enough. The recovery is likely self-sustaining even as it slows as expected.
 

View Site 

Oregon’s Job Growth Slows to 5,100 in September. Oregon’s unemployment rate dropped to 8.0 percent in September from 8.5 percent, as revised, in August. For the past few months, Oregon’s unemployment rate has closely tracked the national unemployment rate which fell to 7.9 percent in September from 8.4 percent in August.

 
View Website 
Fun things to do!
If anyone is looking for a new breakfast spot to try, 'The Mont' on SE Belmont just opened up. I thought it was great. I got eggs benedict. Someone took me up on that free lunch I'm always talkin about! It's always fun!


Address: 2411 SE Belmont St, Portland, OR 97214

 
Here is not a bad list of things to do in the coming months from Kaiser Permanente. It's a good list and there are a few events in there I haven't seen, like Wordstock! Wordstock is Portland’s premier literary festival and is the largest celebration of literature in the Pacific Northwest. The festival offers an abundance of activities for readers of all ages. Sounds fun! The event is held at the Portland Art Museum and surrounding venues in the South Park Blocks. 
 
This website has a list of Halloween events around Oregon coming up. Maybe a last-minute road trip to catch the 'Ashland Moster Dash and Ball Pasta Party' would be fun. I'm thinking it over. Halloween is on a Saturday...

Portland Property Search

  View by area code

If your area code is not listed below, when directed to Zillow, edit the area code in the search bar to view your desired area. To switch from "sold listing" to "recently listed", edit filter directly to the right of the search bar.

97211, 97212, 97213, 97214, 97215, 97216, 97217, 97218, 97219
Thank you for taking the time to read my report
Hey, thanks for checking out this week's Portland-Metro Market Report. Please let me know if there is anything I can do for you! Fall is here! If you need help getting your home ready for the winter season, give me a call!

For more information, you can check out my website at www.strongedgerealty.com or give me a call anytime, lunch is on me!


Evan Zener, Licensed Realtor 
(971)285-0847
Strong|Edge Team with eXp Realty LLC evan@strongedgerealty.com  

 
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